Income Tax payable on mere Transfer of marketing/ distribution right

DCIT Vs Ambalal Sarabhai Enterprises Ltd. (ITAT Ahmedabad) Facts- The assessee Company is mainly engaged in the manufacture of drugs & pharmaceuticals. The assessee Company filed ROI on 31.10.2001 declaring income from house property Rs.9,036/-, income from other sources Rs.1,25,40,914/- and business loss of Rs.10,26,63,568/-. AO made addition in respect of buying commission to Teknoserve (Jersey) Limited amounting to Rs.19,27,498/- as per the provision of Section 40(a)(i) of the Act and also made various disallowances. Thus, the Assessing Officer assessed the total income at Rs.42,97,20,9...