Delhi HC affirms assessee's entitlement to benefits under Income-tax Rule 115, dismisses Revenue's appeal.

The Delhi HC dismissed the appeal on the interpretation of rule 115 of the Income-tax Rules, 1962. The court ruled in favor of the assessee, affirming entitlement to benefits under the rule and rejecting the Revenue's contention that it does not apply to remittances outside India. The appeal was dismissed due to the Revenue's unsubstantiated position.

---

---

The High Court of Delhi dismissed the appeal regarding the interpretation of rule 115 of the Income-tax Rules, 1962. The court held that the assessee was entitled to benefits under the rule, rejecting the Revenue's argument that the rule does not apply to remittances made outside India. The appeal was dismissed as the court found the Revenue's stand without merit. (Case citation: 2001 (10) TMI 27 - DELHI High Court)

---