2005 (4) TMI 46

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..... "due to slackness in the diamond industries and they are also facing financial crises". - assessee's explanation suggests that reason was beyond his control. – Therefore, Commissioner of Income-tax, is directed to reconsider the petitioner's application dated September 10, 1997, seeking extension under section 80HHC(2)(a) in accordance with law. - - - - - Dated:- 5-4-2005 - Judge(s) : V. C. DAG .....

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..... ncial crises". The Commissioner seems to have over-stretched 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. The assessee's explanation that it was due to Asian currency crisis in South-East Asian countries and devaluation of the Hong Kong dollar suggests that it was beyon .....

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