Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Bid-rigging cartel involving Toyfort, Austere Systems, and Fimo Info Solutions in soil testing tenders floated by Uttar Pradesh Agriculture Department contravened Section 3(1) read with Section 3(3)(d) of Competition Act. Toyfort submitted cover bids to support Austere Systems' bid, ensuring tender participation. Considering firms' nil relevant turnover, total turnover used for penalty computation. Toyfort's penalty reduced to 3% of average annual turnover for supporting role. Commission's cease-and-desist order and finding of contravention upheld.
Bid-rigging cartel involving Toyfort, Austere Systems, and Fimo Info Solutions in soil testing tenders floated by Uttar Pradesh Agriculture Department contravened Section 3(1) read with Section 3(3)(d) of Competition Act. Toyfort submitted cover bids to support Austere Systems' bid, ensuring tender participation. Considering firms' nil relevant turnover, total turnover used for penalty computation. Toyfort's penalty reduced to 3% of average annual turnover for supporting role. Commission's cease-and-desist order and finding of contravention upheld.
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TaxTMI 
TaxTMI 
of 4915 
