MCI Code of Conduct not Applicable to pharma companies; Freebies to doctors allowed

Medley Pharmaceuticals Ltd Vs CIT (ITAT Mumbai) The issue under consideration is whether the freebies paid to pharmaceutical companies will be allowed u/s 37(1) or not? ITAT states the code of conduct prescribed by the Medical Council is applicable only to medical practitioners/ doctors registered with the MCI and does not apply to pharmaceutical companies & the healthcare sector in any manner. The issue as regards the applicability of the MCI regulations to the pharmaceutical industry was not gone into. Also, the aspect that the burden imposed by the CBDT vide its aforesaid Circular No. 5...