2004 (10) TMI 25

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..... ountries and devaluation of Hongkong dollar. - Commissioner seems to have overstretched the matter by observing that the assessee ought to have established with evidence that he was unable to bring the convertible foreign exchange for the reasons beyond control. - matter requires consideration by the Commissioner of Income-tax - Commissioner of Income-taxis directed to reconsider the petitioner's .....

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..... 97, November 27, 1997, January 15, 1998, February 11, 1998, February 20, 1998, March 10, 1998 and March 12, 1998. The payment that has been received is delayed. The explanation given by the assessee for the delayed receipt of proceeds for exports vide the aforesaid invoices was Asian currency crisis in South-East Asian countries and devaluation of Hongkong dollar. The Commissioner seems to have ov .....

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