Assessment amendment to allow deductions when foreign-sourced income is brought into India with regulatory approval.

Where deductions under sections 80HHB, 80HHC, 80HHD, 80HHE, 80-O, 80R, 80RR or 80RRA were denied because income was not received or brought into India in convertible foreign exchange, the Assessing Officer shall amend the assessment to allow such deduction if the income or part thereof is subsequently received in, or brought into, India with approval of the Reserve Bank of India or another authorised authority; section 154 applies to such amendments and the four-year period runs from the end of the previous year in which the income is so received or brought into India.

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