KALIDOSS NATARAJAN,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(3)(1), BANGALORE

ITA 1976/BANG/2024Status: DisposedITAT Bangalore28 November 2024AY 2019-20Bench: SHRI WASEEM AHMED (Accountant Member), SHRI KESHAV DUBEY (Judicial Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the benefit of FTC cannot be denied if claimed in a revised return, especially when Form 67 is filed. It followed previous judgments stating that filing Form 67 is directory, not mandatory, and DTAA provisions override the Act and Rules.

What were the facts?

The assessee claimed foreign tax credit (FTC) in a revised return of income, supported by Form 67. The CPC disallowed the claim during processing under Section 143(1) because it was not claimed in the original return. The CIT(A) upheld this disallowance.

What were the issues?

Whether foreign tax credit can be disallowed solely because it was claimed in a revised return and not the original return, despite filing Form 67.

Which sections of the Income-tax Act were involved?

Section 143(1),Section 139,Section 90

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Income Tax Appellate Tribunal, ‘C’ BENCH, BANGALORE

Before: SHRI WASEEM AHMED & SHRI KESHAV DUBEY

For Appellant: Shri Balaji V, C.A
For Respondent: Shri V Parithivel, JCIT (DR)
Hearing: 25.11.2024Pronounced: 28.11.2024

PER WASEEM AHMED, ACCOUNTANT MEMBER:

This appeal is filed by the assessee challenging the order dated 22.08.2024 passed by the Additional/Joint Commissioner of Income Tax (Appeals) – 1, Lucknow, in DIN No. ITBA/APL/S/250/2024- 25/1067856940(1) for the assessment year 2019-20. 2. The sole issue raised by the assessee is that the learned Commissioner of Income Tax (Appeals) ["CIT(A)"] erred in disallowing the benefit of foreign tax credit (FTC) amounting to ₹37,04,667/-, on the ground that the claim was not made in the original return of income.

3.

In the present case, the assessee claimed the FTC, supported by Form 67, in the revised return of income filed

The order continues below.

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