An effective compliance programme includes creating awareness and imparting training to the employees who may engage themselves or are exposed to anti-competitive conducts. The programme should provide for identifying possible violations so as to take pro-active, corrective and remedial steps.
Introduction to Competition Law (Part – 5: Regulatory Bodies and Coordination between the Competition Commission of India (CCI) and Sectoral Regulator) 1. Regulatory Framework in India Before the opening up of the economy, economic activity was mainly dominated by the government-owned companies. Apart from economic activities government also controlled, most of the factors that determine the level […]
Introduction to Competition Law (Part – 4: Public Procurement Governments/PSUs) Public Procurement- Government/ PSUs 1. Background The Competition Act, 2002 (the ‘Act’) has been enacted with the objective of preventing practices having adverse effect on competition, promoting and sustaining competition in markets, protecting the interests of consumers and ensuring freedom of trade carried on by […]
Competition law simply enjoins the members, and their representatives at trade association meetings, to understand and appreciate the difference between legitimate association activity and anti-competitive practices.
The spirit of competition warrants continuous improvement in the existing market place where the efficient players push in-efficient players out of the market thereby promoting economic well-being of both the market participants and the consumers.
Introduction to Competition Law (Part – 1: Basic Introduction) 1. Introduction Capitalism has become a pervasive system worldwide. It emerged during the 17th century with the demise of mercantilism. It is basically an economic system which is based on the premise of lack of government intervention, means of production owned by private firms and the […]
Since the mistake of quoting wrong PAN has been rectified in the revised TDS return filed by the assessee which has been accepted by the department, therefore, there is no justification in raising a demand on account of short deduction of TDS.
Ashoka Hi-Tech Builders Pvt. Ltd Vs DCIT (ITAT Indore) In this Case ITAT Indore explains Entire law on taxation of real estate construction contracts in the context of ‘completed contract’ vs. ‘percentage completion’ with reference to Accounting Standards AS-7 and AS-9 and all important judgements on the issue. ITAT further explained Provisions of S. Section […]
Assessee being developer of SEZ was eligible for deduction under section 80-IAB for income earned from operation and maintenance of SEZ.
Show cause notice under section 274 not spelling out the specific ground on which penalty under section 271(1)(c) was sought to be imposed, was defective and, therefore, penalty was deleted.
