https://www.taxtmi.com/caselaws?id=121510 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to recompute the exemption under section 10A accordingly. The judgment emphasized the necessity of obtaining formal approvals for extensions from the competent authority, in this case, the Reserve Bank of India, for realizing export proceeds within the stipulated timeframe. Despite the lack of a formal approval letter, the Tribunal considered the completion of formalities and actions taken by the parties as sufficient for granting the extension and upheld the assessee's entitlement to the deduction for the excluded amount. en-us Thu, 19 Mar 2009 00:00:00 +0530 Tue, 31 Jul 2012 12:06:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121510 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to recompute the exemption under section 10A accordingly. The judgment emphasized the necessity of obtaining formal approvals for extensions from the competent authority, in this case, the Reserve Bank of India, for realizing export proceeds within the stipulated timeframe. Despite the lack of a formal approval letter, the Tribunal considered the completion of formalities and actions taken by the parties as sufficient for granting the extension and upheld the assessee's entitlement to the deduction for the excluded amount. Case-Laws Income Tax Thu, 19 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121510