Taxation Laws (Amendment) Act,2006
Section 14. Amendment of Section 155
In Section 155 of the Income Tax Act, after sub-section (11), the following sub-section shall be inserted, namely:-
“(11-A) Where in the assessment for any year, the deduction under Section 10-A or Section 10-B or Section 10-BA has not been allowed on the ground that such income has not been received in convertible foreign exchange in India, or having been received in convertible foreign exchange outside India, or having been converted into convertible foreign exchange outside India, has not been brought into India, by or on behalf of the assessee with the approval of the Reserve Bank of India or such other authority as is authorised under any law for the time being in force for regulating payments and dealings in foreign exchange and subsequently such income or part thereof has been or is received in, or brought into, India in the manner aforesaid, the Assessing Officer shall amend the order of assessment so as to allow deductien under Section 10-A or Section 10-B or Section 10-BA, as the case may be, in respect of such income or part thereof as is so received in, or brought into, India, and the provisions of Section 154 shall, so far as may be, apply thereto, and the period of four years shall be reckoned from the end of the previous year in which such income is so received in, or brought into, India.