  Light induced absorption with population inversion and amplification without
population inversion (LWI) in a coherently prepared closed three level V - type
system are investigated. This study is performed from the point of view of a
two color dressed state basis. Both of these processes are possible due to
atomic coherence and quantum interference contrary to simple intuitive
predictions. Merely on physical basis, one would expect a complementary process
to the amplification without inversion. We believe that absorption in the
presence of population inversion found in the dressed state picture utilized in
this study, constitutes such a process.
  Novel approximate analytic time dependent solutions, for coherences and
populations are obtained, and are compared with full numerical solutions
exhibiting excellent agreement. Steady state quantities are also calculated,
and the conditions under which the system exhibits absorption and gain with and
without inversion, in the dressed state representation are derived. It is found
that for a weak probe laser field absorption with inversion and amplification
without inversion may occur, for a range of system parameters.
