The Competition Act 2002

Regular income of any tax year of a registered non-profit organisation means––(a) receipts from any charitable or religious activity, for which it is registered, carried out by such registered non-profit organisation in such tax year;(b) receipts, other than those specified in clause (d), whether capital or revenue, derived from any property or investment held by […]

In the bustling Indian marketplace, where businesses vie for attention and customers, a set of rules ensures a level playing field for all. Enter The Competition Act, 2002, India’s guardian of fair competition and consumer welfare. A Game Changer for a Growing Economy: Before 2002, the archaic Monopolies and Restrictive Trade Practices Act (MRTP Act)

Repeal and saving [(1) The Monopolies and Restrictive Trade Practices Act, 1969 (54 of 1969) is hereby repealed and the Monopolies and Restrictive Trade Practices Commission established under sub-section (1) of section 5 of the said Act (hereafter referred to as the repealed Act) shall stand dissolved. 2* * * * * (1A) The repeal of the Monopolies and Restrictive Trade

Power to remove difficulties. (1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provisions, not inconsistent with the provisions of this Act as may appear to it to be necessary for removing the difficulty: Provided that no

Power to make regulations (1) The Commission may, by notification, make regulations consistent with this Act and the rules made thereunder to carry out the purposes of this Act. (2) In particular, and without prejudice to the generality of the foregoing provisions, such regulations may provide for all or any of the following matters, namely:— (a) the cost of production to be

Power to make rules (1) The Central Government may, by notification, make rules to carry out the provisions of this Act. (2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:— 1[(a) the term of the Selection Committee and the

Application of other laws not barred. The provisions of this Act shall be in addition to, and not in derogation of, the provisions of any other law for the time being in force. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice |

Exclusion of jurisdiction of civil courts No civil court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which the 1[Commission or the Appellate Tribunal] is empowered by or under this Act to determine and no injunction shall be granted by any court or other authority in respect of any action taken or to

Act to have overriding effect. The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return

Protection of action taken in good faith No suit, prosecution or other legal proceedings shall lie against the Central Government or Commission or any officer of the Central Government or the Chairperson or any Member or the Director General, Additional, Joint, Deputy or Assistant Directors General or 1[the Secretary or officers or other employees of the Commission or the Chairperson, Members, officers and other employees of the Appellate