Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (4) TMI 933 - AT - Income TaxClaim of foreign tax credit (FTC) u/s 90 - belated filling of Form 67 for claiming FTC - Credit for taxes paid in USA on the income earned in USA, which is again taxed in India - claim was rejected by the AO in intimation passed u/s 143(1) on the ground that in terms of Rule 128 of the Income Tax Rules, 1962 the assessee was required to file Form 67 for claiming FTC on or before the due date of furnishing return of income u/s 139(1) - assessee filed Form 67 on 26.10.2019 after the due date of filing the return of income mentioned u/s 139(1) of the Act but before the intimation u/s 143(1) of the Act dated 23.03.2021 HELD THAT:- Rule 128 of the Rules cannot override the provisions of DTAA and impose an additional condition that credit will not be given if Form 67 is not filed on or before the due date of filing the return of income as prescribed under section 139(1) Form 67 for claiming FTC -filing of Form No.67 is only a procedural and directory requirement and not mandatory requirement for claiming credit for foreign taxes paid. Thus as undisputed fact that Form 67 was filed by the assessee prior to the intimation under section 143(1) of the Act issued by the AO on 23.03.2021, the assessee is entitled to credit for foreign taxes paid and the AO is directed to allow the claim of the assessee in this regard. Appeal of the assessee is allowed.
|