DIWAKAR AGGARWAL,NEW DELHI vs. ITO, WARD-27(1), NEW DELHI

ITA 2804/DEL/2023Status: DisposedITAT Delhi26 April 2024AY 2021-22Bench: SHRI KUL BHARAT (Judicial Member), SHRI M.BALAGANESH (Accountant Member)5 pages
AI SummaryAllowed for statistical purposes

What did the Tribunal hold?

The Tribunal noted the assessee's claim that Form 67 was filed and the FTC was allowed but not computed. It directed the AO to verify these facts and, if found correct, to grant the relief in accordance with law. The Tribunal allowed the appeal for statistical purposes, remanding the matter to the AO for re-verification.

What were the facts?

The assessee appealed against the NFAC order for AY 2021-22, where the Assessing Officer (AO) did not grant Foreign Tax Credit (FTC) under section 90 of the Income Tax Act. The AO and CIT(A) disallowed the claim, asserting that Form 67, mandatory for FTC, was filed after the due date specified under section 139(1). The assessee contended that the claim was allowed in a rectification order under section 154 but was not given effect in the final computation.

What were the issues?

Whether Foreign Tax Credit should be disallowed solely due to late filing of Form 67, and whether the AO should re-verify the assessee's claim that FTC was allowed in a rectification order but not given effect in computation.

Which sections of the Income-tax Act were involved?

Section 90,Section 91,Section 139(1),Section 143(1),Section 154,Section 295(2)(ha)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI “B” BENCH: NEW DELHI

Before: SHRI KUL BHARAT & SHRI M.BALAGANESH

For Appellant: Shri S.Krishnan, Adv
For Respondent: Shri Vivek Kumar Upadhyay, Sr.DR
Hearing: 04.04.2024Pronounced: 26.04.2024

PER KUL BHARAT, JM : The present appeal filed by the assessee is directed against the order passed by Ld.CIT(A), National Faceless Appeal Centre (“NFAC”), Delhi dated 25.08.2023 for the assessment year 2021-22. 2. The assessee has raised following grounds of appeal:-

1.

“On the facts and in the circumstances of the case and in law, the National Faceless Appeal Centre ('NFAC") erred in not directing rectification of intimation u/s.143(1) dated 13.10.2022, wherein claim of Foreign Tax Credit u/s.90 had not been allowed to the Assessee.

2.

On the facts and in the circumstances of the case and in law, the National Faceless Appeal Centre ('NFAC') erred in returning findings at Para 6 which were never subject matter of the intimation u

The order continues below.

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