https://www.taxtmi.com/caselaws?id=14458 The court quashed the Commissioner of Income Tax's order under Section 80HH(2)(a) of the Income Tax Act, 1961, directing an extension until September 30, 1998, for bringing sale proceeds into India. The assessment order by the Joint Commissioner of Income Tax was not directly quashed, but the petitioner could seek legal remedies if adversely affected. The court found the Commissioner's reasons for refusing further extensions to be arbitrary and lacking proper consideration, emphasizing the need for reasonable exercise of discretion in granting extensions under Section 80HHC(2)(a) to encourage exports. en-us Mon, 18 Dec 2000 00:00:00 +0530 Thu, 16 Jul 2009 10:52:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14458 The court quashed the Commissioner of Income Tax's order under Section 80HH(2)(a) of the Income Tax Act, 1961, directing an extension until September 30, 1998, for bringing sale proceeds into India. The assessment order by the Joint Commissioner of Income Tax was not directly quashed, but the petitioner could seek legal remedies if adversely affected. The court found the Commissioner's reasons for refusing further extensions to be arbitrary and lacking proper consideration, emphasizing the need for reasonable exercise of discretion in granting extensions under Section 80HHC(2)(a) to encourage exports. Case-Laws Income Tax Mon, 18 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14458