Competent authority definition clarified: RBI or other authorised regulator may permit further extension under section 80R compliance rules. The amendment substitutes the prior reference to the Chief Commissioner with a provision allowing extensions 'within such further period as the competent authority may allow in this behalf' and inserts an Explanation defining the competent authority as the Reserve Bank of India or any other authority authorised under law 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.
Competent authority definition clarified: RBI or other authorised regulator may permit further extension under section 80R compliance rules.
The amendment substitutes the prior reference to the Chief Commissioner with a provision allowing extensions "within such further period as the competent authority may allow in this behalf" and inserts an Explanation defining the competent authority as the Reserve Bank of India or any other authority authorised under law to regulate payments and dealings in foreign exchange.
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