DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(1), VISAKHAPATNAM vs. SSNR PROJECTS PRIVATE LIMITED, VISAKHAPATNAM

ITA 461/VIZ/2024Status: DisposedITAT Visakhapatnam31 January 2025AY 2020-21Bench: the due date of filing of the return of income U/s. 139(1) of the Act. Subsequently, the case was selected for scrutiny under CASS and accordingly, statutory notices were issued and served uupon te assessee. Considering the submissions made by the assessee, the Ld. AO passed the assessment order U/s. 143(3) r.w.s 144B of the Act, dated 23/09/2022 and made addition of Rs. 3,11,32,329/-. Further, the Ld. AO also made addition of Rs. 3 56,58,265/- U/s. 36(1)(va) of the Act on account of late d1 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that filing of Form-67 is a procedural aspect and can be considered directory in nature, not mandatory, especially when filed before the assessment order. The Tribunal relied on previous decisions and High Court judgments that supported this view.

What were the facts?

The assessee claimed foreign tax credit (FTC) of Rs. 3,11,32,299/- while filing its return of income but did not file Form-67 within the prescribed due date. The Assessing Officer disallowed the FTC. The CIT(A)-NFAC allowed the appeal, directing the AO to allow the FTC.

What were the issues?

Whether the belated filing of Form-67 for claiming Foreign Tax Credit is a bar to the allowance of such credit, or if it is a procedural requirement that can be condoned.

Which sections of the Income-tax Act were involved?

Section 90,Section 139(1),Section 143(3),Section 144B,Section 36(1)(va)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Before: SHRI DUVVURU RL REDDY & SHRI S BALAKRISHNAN

Hearing: 17/12/2024

PER SHRI DUVVURU RL REDDY, VICE PRESIDENT:

The captioned appeal is filed by the Revenue against the order of the Ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [CIT(A)-NFAC] in DIN & Order No. ITBA/NFAC/S/250/2024-25/1068837722(1), dated 19/09/2024 arising out of the order passed U/s. 143(3) of the Income Tax Act, 1961 [the Act] for the AY 2020-21. 2

2.

Briefly stated the facts of the case are that the assessee has filed its return of

The order continues below.

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