https://www.taxtmi.com/caselaws?id=262742 The Court ruled in favor of the Assessee regarding the interpretation of Section 80 HHC (2) of the Income Tax Act, 1961, allowing the deduction on amounts realized in convertible foreign exchange after the specified period. However, the Court sided with the Revenue on the validity of extending the benefit under Section 80 HHC (2) beyond the initial deadline, holding that the extension granted was not justified. The appeal was disposed of accordingly, addressing the issues raised on deduction eligibility and extension validity under Section 80 HHC (2). en-us Tue, 04 Aug 2015 00:00:00 +0530 Wed, 19 Aug 2015 07:47:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262742 The Court ruled in favor of the Assessee regarding the interpretation of Section 80 HHC (2) of the Income Tax Act, 1961, allowing the deduction on amounts realized in convertible foreign exchange after the specified period. However, the Court sided with the Revenue on the validity of extending the benefit under Section 80 HHC (2) beyond the initial deadline, holding that the extension granted was not justified. The appeal was disposed of accordingly, addressing the issues raised on deduction eligibility and extension validity under Section 80 HHC (2). Case-Laws Income Tax Tue, 04 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262742