Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (9) TMI 557 - AT - Income TaxNon grant of Foreign Tax Credit ('FTC') - CIT(A) denied the credit on the ground that the tax was not paid by the assessee and secondly Form 67 was filed belatedly - assessee claimed Relief u/s 90 / 90A which was denied by CPC - HELD THAT:- FTC has been offered by the assessee as perquisites in the gross total income and taxes have been paid thereon. Once this income has been offered to tax, the corresponding credit of the same would be available to the assessee. It could be seen in another perspective. Even if it is assumed that the assessee has not paid these taxes (as pleaded by Ld. Sr. DR) then it could be viewed as excess salary received by the assessee which was not received but retained by the foreign employer for payment of foreign taxes. Therefore, once the payment has been included by the assessee in the income and taxed have been paid thereon, then this credit would certainly be available to the assessee. We order so. So far as filing of Form 67 the same has been held to be mere directory requirement by SMC bench of Bangalore Tribunal in MS. BRINDA RAMA KRISHNA [2022 (2) TMI 752 - ITAT BANGALORE] and M/S. 42 HERTZ SOFTWARE INDIA PVT. LTD. [2022 (3) TMI 834 - ITAT BANGALORE] It is the finding of Ld. CIT(A) that the assessee has already filed Form No.67 although belatedly. Therefore, we direct Ld. CIT(A) to verify the form and allow tax credit to the assessee, if found in order. Appeal partly allowed.
|