Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
NCLAT dismissed the appeal concerning alleged abuse of dominant position under Sections 3(4) and 4 of the Competition Act, 2002. The Appellant failed to disclose that their retailer tier status had been restored on 23.06.2021, prior to filing information on 01.07.2021, yet continued seeking reinstatement of the same status in their prayer. The tribunal determined this constituted "unclean hands" as the Appellant submitted false affidavits and concealed material facts. The Commission found the retailer tier downgrade resulted from consistently reduced offtake by the Appellant rather than anti-competitive conduct. The appeal was dismissed for lack of merit, with the investigation process deemed fair.
NCLAT dismissed the appeal concerning alleged abuse of dominant position under Sections 3(4) and 4 of the Competition Act, 2002. The Appellant failed to disclose that their retailer tier status had been restored on 23.06.2021, prior to filing information on 01.07.2021, yet continued seeking reinstatement of the same status in their prayer. The tribunal determined this constituted "unclean hands" as the Appellant submitted false affidavits and concealed material facts. The Commission found the retailer tier downgrade resulted from consistently reduced offtake by the Appellant rather than anti-competitive conduct. The appeal was dismissed for lack of merit, with the investigation process deemed fair.
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