Convertible foreign exchange defined for section 10A purposes to follow RBI treatment under FEMA and corresponding laws. For purposes of the Income-tax Act, 1961, convertible foreign exchange is defined as foreign exchange that is currently treated by the Reserve Bank of India as convertible for the purposes of the Foreign Exchange Management Act, 1999, and as any rules made thereunder or any other corresponding law in force.
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.
Convertible foreign exchange defined for section 10A purposes to follow RBI treatment under FEMA and corresponding laws.
For purposes of the Income-tax Act, 1961, convertible foreign exchange is defined as foreign exchange that is currently treated by the Reserve Bank of India as convertible for the purposes of the Foreign Exchange Management Act, 1999, and as any rules made thereunder or any other corresponding law in force.
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