Rationalisation of Competition Appeals: A Way Forward?

[Abhimanyu Singh Yadav and Anubha Singhal are 3rd year BA LLB (Hons) students at Dr. Ram Manohar Lohiya National Law University, Lucknow] The purpose of a Finance Act has generally been to lay down the tax proposals framed by the Central Government. However, apart from laying down tax proposals, the Finance Act 2017 brought about some noticeable structural changes in the functioning of appellate tribunals in India. As a result of this, we witness the curtains falling down on the independent Competition Appellate Tribunal (“COMPAT”) which, for some years now, had been entertaining appeals on competition related disputes in India. It is because of Part XIV of the Chapter VI of the Finance Act, 2017 that these amendments were brought into effect. The Eradi Committee had initially endorsed the importance of setting up a specific tribunal that would deal with the revival, rehabilitation and winding up of companies. Finally on May 26, 2017, the Government through a…

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