CCI Notified to share information with Income Tax Department

The Central Board of Direct Taxes vide notification dated 30 July, 2020 notified the Director-General/Secretary, Competition Commission of India (CCI) as the specified Income-tax authority.

It is clarified that income-tax authority, as specified in Notification No. S.O. No. 731(E) dated 28.07.2000, shall-

1. furnish only relevant and precise information after forming an opinion that furnishing of such information is necessary so as to enable the above-notified authority to perform its functions under the law being administered by it; and
2. convey to the authority being specified vide this notification to maintain absolute confidentiality in respect of information being furnished.