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2018 (9) TMI 606 - HC - Income TaxDeduction u/s 80HHE - exports made by the assessee for the previous year relevant to assessment year 1992-93 - Held that:- This Court is unpersuaded with the Revenue’s contentions; firstly, for the previous year as well the assessee’s claim under Section 80HHE of the Act for similar receipt of export proceeds for earlier periods, was allowed. Apart from that the fact remains that the amounts were supposed to be received, but were not received, on account of extraneous political circumstance, i.e. disintegration of Soviet Union. In these circumstances, as and when the amounts were received, the assessee did claim deduction – albeit in the course of assessment proceedings. This occurred at a point of time when there was no bar in such claims – the restriction was imposed by an amendment in the Finance Act, 2009 with retrospective effect from 01.04.2003. Consequently, the assessee was not barred from claiming the deduction, when the amounts were in fact received by it. - decided against revenue
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