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6. The assessee was incorporated in February 2000 as a private Ltd company pursuant to receiving an approval from the Indian government to undertake specified activities in India. It is a wholly-owned subsidiary of Sharp Corporation Japan. Assessee imports business machine such as multifunction devices/printers/PS, fax machines, LCD display panels, electronic cash register, scientific calculator and assessee is also buying LCD DLP projectors from its associated enterprise for sale in India through varied distribution channel. The assessee has also imported solar modules from its associated enterprise for sale.