Deduction under Income-tax Act now requires a prescribed-form certificate with return and competent authority oversight. Amendment revises the proviso to permit time extensions only as allowed by the competent authority, requires that no deduction be allowed unless the assessee furnishes a prescribed-form certificate with the return certifying correct claim of the deduction, and defines 'competent authority' to mean the authority authorised to regulate payments and dealings in foreign exchange.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction under Income-tax Act now requires a prescribed-form certificate with return and competent authority oversight.
Amendment revises the proviso to permit time extensions only as allowed by the competent authority, requires that no deduction be allowed unless the assessee furnishes a prescribed-form certificate with the return certifying correct claim of the deduction, and defines "competent authority" to mean the authority authorised to regulate payments and dealings in foreign exchange.
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