The Competition & Commercial Law Review

[Kumar Aditya is a third-year B.B.A, LL.B (Hons.) student at Chanakya National Law University, Patna] A new section 194R has been inserted in the Income Tax Act 1961, by the Finance Act of 2022. The section provides that any person responsible for providing any benefit or perquisite to a resident, is required to deduct tax at the source (TDS) at a rate of 10% if the total value of such benefit/perquisite exceeds INR 20,000 within a financial year. Further, it states that the

[Aditya Trivedi and Mrigank Patel are final year students at National Law University and Judicial Academy, Assam & Hidayatullah National Law University, Raipur respectively} Background While CCI has been vigorously undertaking enforcement during the last 12 years and has kept on imposing heavy penalties on the parties in contravention of the Antitrust Law in India, the actual realization of such aforementioned penalties has been less than 0.6%. In recent years, with a motive