TMI Blog2023 (7) TMI 1369X X X X Extracts X X X X X X X X Extracts X X X X ..... form number 67 on or before the end of the assessment year. Therefore, legislature in its own wisdom has extended such date which is beyond the due date of filing of the return of income. The fact in the present case is quite distinct then the issue involved in the decision of the honourable Supreme Court in case of Wipro Ltd [ 2022 (7) TMI 560 - SUPREME COURT] Here it is not the case of violation of any of the provisions of the act but of the rule, which does not provide for any consequence, if not complied with. Therefore, we hold the assessee is eligible for foreign tax credit, as he has filed in form 67 before completion of the assessment. We hold that the claim of foreign tax credit cannot be denied and we direct the AO to allow the FTC based upon the belated form No. 67 filed by the assessee accordingly. Appeal of the assessee is allowed. - DR. S. SEETHALAKSHMI, JM SHRI RATHOD KAMLESH JAYANTBHAI, AM For the Appellant : Sh. Nageswar Rao (Adv.) For the Respondent : Sh. A. S. Nehra (Addl. CIT) ORDER PER: RATHOD KAMLESH JAYANTBHAI, AM This appeal is filed by assessee and is arising out of the order of the National Faceless Appeal Centre, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eduction of Rs. 1,91,803/- under Chapter VI-A of the Act from the above gross total income and a self-assessment tax of Rs. 24,70,738/- was paid by the assessee after claiming the eligible tax credits. The CPC processed return of income u/s 143(1) on 08.06.2020 determining demand of Rs. 21,23,250/- and later on determining demand of Rs. 22,00,795/- on 07.08.2020 under section 154 of the IT Act, 1961. In that order of the ld. AO u/s. 154 of the Act he hold that the assessee was required to file return of income as well as form 67 before due date specified for furnishing the return of income under sub-section (1) of section 139. The assessee filed form 67 on 28.01.2019 and return of income on 22.01.2019 under section 139(4) which is applicable in case of filing of return of income after due date. Therefore, the assessee is not eligible for relief u/s 90/90A of the Income Tax Act, 1961 and thereby the claim of the assessee was denied. 4. Aggrieved from the order of the Assessing Officer, assessee preferred an appeal before the ld. CIT(A)/NFAC. A propose to the grounds so raised the relevant finding of the ld. CIT(A)/NFAC is reiterated here in below: 4 I have considered the grou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Income on 22.01.2019 which is after the due date specified for furnishing the Return of Income under sub-section (1) of section 139. Further, the Appellant submitted Form 67 as referred in Rule 128 was only on 28.01.2019 which is also after the due date specified for furnishing the Return of Income under sub-section (1) of section 139. In view of these facts and the provisions of IT Act and Rule 128 of the IT Rules, 2016 and notification No.9 dated 19.09.2017 of CBDT, I don't find any irregularities in the order of 154 passed by the AO. Further, the Appellant could not submit any contrary view or evidence against the order of 154 of the IT Act. Accordingly, I am of the considered view that the foreign tax credit of Rs. 15,53,686/- is not allowable in the case of Appellant as the relevant Return of Income and Form 67 as referred in Rule 128 of the IT Rules, 2016 have been furnished after the due date specified for furnishing the Return of Income under sub-section (1) of section 139 of the IT Act. Therefore, the order of 154 of the IT Act is hereby confirmed and this ground of appeal is dismissed. 4.2 Ground No. 3 relates to charging of interest under sections 234A, 234B 23 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... due date of filing of return of income under rule 128 which is mandatory condition and thus supported the finding of the lower authorities. 8. We have heard the rival contentions and perused the material placed on record. The only issue in this appeal is whether the assessee is entitled for foreign tax credit claimed even though the required Form No. 67 is not filed in accordance with the provision of rule 128(9) of the Income Tax Rules. At the same time based on the averments made by the ld. AR of the assessee the bench noted that the ld. DR did not placed on record any contrary judgment to these facts and has relied upon the finding of ld. AO and the ld. CIT(A) on the issue and reiterated those contentions that has already been reflected in the orders of lower authorities. We also noted that the said form (form 67) was filed before the Assessing Officer and before issuance of intimation u/s 143(1) of the Act in that return. The assessee has already put a claim for foreign tax credit based on that form, the revenue has not otherwise put forth the non eligibility of the claim on the merit of the assessee. WE considered the various judgment cited by the ld. AR of the assessee in ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
