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2023 (5) TMI 151 - AT - Income TaxDenial of foreign tax credit - assessee has not filed a statement in Form-67 on or before the due date specified for filing the return of income u/s. 139(1) - Extension of due date for filling returns due to COVID outbreak - AR argued that the assessee filed its original return of income on 15/2/2021 which is the extended due date allowed by the Central Board of Direct Taxes [CBDT] due to Covid-19 - HELD THAT:- Admittedly, the foreign tax credit is claimed by the assessee by filing the statement in Form-67 on 31/3/2021. We find that as argued by the Ld. AR, THE TAXATION AND OTHER LAWS (RELAXATION AND AMENDMENT OF CERTAIN PROVISIONS) ACT, 2020 allows any statement to be filed on or before 31/3/2021. As per Sl.No.4(b) of the Press Release for extension of time limits dated 30/12/2020, the period has been extended for filing the return of income upto 15/2/2021. We therefore find that the assessee has rightly filed the return of income on or before the due date for filing the return of income and also the statement in Form-67 within the extended due date of 31/3/2021. As in the present case the assessee has filed the return of income and the statement in Form-67 within the respective due dates as extended by the Ministry of Finance, Government of India. We are therefore of the considered view that the foreign tax credit shall be allowed to the assessee. Decided in favour of assessee.
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