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2022 (2) TMI 103 - ITAT PUNECredit for Foreign Tax after verification of the claim in contravention to section 251(1) - HELD THAT:- Tribunal, relying on certain decisions, accepted the assessee's claim of granting tax credit in respect of the interest income that was shown by the assessee in the year under consideration. Tribunal accepted the assessee's contention in the proceedings arising out of the order passed u/s. 143(3), the instant appeal on the very same issue, flowing from the order passed u/s.154, has virtually become infructuous. Respectfully following the order passed by the Tribunal for the same year allowing Foreign Tax credit in respect of interest income offered during the year under consideration, we uphold the impugned order on this score. The facts for the assessment year 2012-13 are admittedly mutatis mutandis similar to the immediately preceding year. For this year also, the AO did not allow credit for Tax credit on interest income credited by the foreign entity. The assessee moved application u/s. 154 and the instant proceedings arose out of such application. The assessee assailed the order u/s. 143(3) before the higher authorities. Tribunal accepted the assessee's contention and the ld. CIT(A) in the impugned order has followed the view point of the Tribunal in allowing the assessee's claim. Since the facts and circumstances of the instant appeal are similar to those for the assessment year 2011-12, following the view taken hereinabove, we uphold the impugned order.
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