2000 (8) TMI 15

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....red bulk drugs which were sold to the Generic Division. The latter division prepared drugs formulations. The Rat lam unit sold the goods to the Generic Division at market value. The Assess ing Officer and the Commissioner of Income-tax valued them at cost. The Assessing Officer/Commissioner of Income-tax accordingly found that deduc tions were wrongly inflated by the company. The Income-tax Appell....