For Certificate involving the export of Medical devices covered under the Drugs and Cosmetics Act, the application will be transmitted to Ministry of Health for endorsement. Ministry of Health may require the documents such as GMP licence etc. to be annexed to the application by the applicant.
It cannot be a matter of an argument that the amount of sales by itself cannot represent the income of the assessee who has not disclosed the sales. The sales only represented the price received by the seller of the goods for the acquisition of which it has already incurred the cost. It is the realisation of excess over the cost incurred that only forms part of the profit
