2009 (2) TMI 427

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....follows : (a) The substantial question of law arises in the present appeal is regarding the true scope and correct interpretation of section 80HHC of the Income-tax Act, 1961, and other provisions and whether on the facts and circumstances of the case and in law the hon'ble Tribunal is right in rejecting the appeal of the Revenue and holding that the receipt by way of exchange rate fluctuation ....

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....petent authority may allow in this behalf. Thus, a plain reading of the provision makes it clear that once the competent authority has extended the time, in a case where it is necessary, or, where the sale proceeds have been received within a period of six months from the end of the previous year, such sale proceeds are directly relatable to the exports made and no further inquiry is necessary. Th....