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2002 (8) TMI 64 - HC - Income TaxWhether, in the facts and circumstances of the case, petitioner No. 1 is entitled to extension of time in terms of section 80HHC(2)(a) of the Income-tax Act, 1961, in respect of its claim for deduction in respect of the assessment year 1994-95. - The petitioner, in spite of service of notice under section 148 of the Act, took about sixteen months to file the return and the application under section 80HHC(2)(a) was filed much after two years from the end of the relevant assessment year. Besides, the convertible foreign exchange was brought in much beyond the period (limitation prescribed under section 153) within which the assessment under section 143/ 144 is required to be completed. The petitioner-assessee has thus disentitled himself to the grant of benefit of extension in time. - No case, in my view, has been made out by the petitioners for grant of the reliefs, as prayed for. - In the result, the writ application is liable to be and is accordingly dismissed.
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