https://www.taxtmi.com/caselaws?id=25981 Section 80-0 approval is not defeated merely because the assessee was not a direct party to the foreign contract, where the approved arrangement identifies the services and personnel, and the foreign enterprise has accepted the assessee's participation. The note also states that receipt of convertible foreign exchange through an Indian intermediary satisfies the statutory condition when the intermediary acts as the assessee's agent and holds the balance for remittance to the assessee. On that reasoning, absence of direct contractual privity does not bar approval, and foreign-exchange receipts routed through an agent remain eligible for the benefit. en-us Mon, 14 Oct 1985 00:00:00 +0530 Tue, 02 Feb 2010 11:07:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25981 Section 80-0 approval is not defeated merely because the assessee was not a direct party to the foreign contract, where the approved arrangement identifies the services and personnel, and the foreign enterprise has accepted the assessee's participation. The note also states that receipt of convertible foreign exchange through an Indian intermediary satisfies the statutory condition when the intermediary acts as the assessee's agent and holds the balance for remittance to the assessee. On that reasoning, absence of direct contractual privity does not bar approval, and foreign-exchange receipts routed through an agent remain eligible for the benefit. Case-Laws Income Tax Mon, 14 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25981