https://www.taxtmi.com/caselaws?id=14512 The Supreme Court held that an extension application for bringing in sale proceeds under Section 80HHC(2)(a) of the Income-tax Act can be granted even after the original period expires. The Court emphasized the importance of allowing extensions to fulfill the objective of bringing proceeds into India in convertible foreign exchange. The Chief Commissioner's decision denying the extension was overturned, and the case was remanded for reconsideration. Ultimately, the petition was dismissed in favor of granting the extension requested by the petitioner. en-us Fri, 30 Oct 1998 00:00:00 +0530 Thu, 16 Jul 2009 13:00:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14512 The Supreme Court held that an extension application for bringing in sale proceeds under Section 80HHC(2)(a) of the Income-tax Act can be granted even after the original period expires. The Court emphasized the importance of allowing extensions to fulfill the objective of bringing proceeds into India in convertible foreign exchange. The Chief Commissioner's decision denying the extension was overturned, and the case was remanded for reconsideration. Ultimately, the petition was dismissed in favor of granting the extension requested by the petitioner. Case-Laws Income Tax Fri, 30 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14512