VAMSI KRISHNA AYYALASOMAYAJULA,TELANGANA vs. INCOME TAX OFFICER, WARD-5(3)(4), BANGALORE

ITA 1469/BANG/2024Status: DisposedITAT Bangalore23 October 2024AY 2017-18Bench: SHRI GEORGE GEORGE K. (Vice President), SHRI LAXMI PRASAD SAHU (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal held that the requirement of filing Form 67 within the due date is directory, not mandatory. It also noted that the provisions of the Double Taxation Avoidance Agreement (DTAA) override the provisions of the Act, and the DTAA does not prescribe disallowance of FTC for non-compliance with procedural provisions.

What were the facts?

The assessee, a resident of India and USA, earned income in both countries and paid taxes. The assessee filed their return of income and claimed Foreign Tax Credit (FTC) for taxes paid in the USA. However, the FTC was disallowed by the CPC for non-filing of Form 67 within the due date.

What were the issues?

Whether disallowance of Foreign Tax Credit (FTC) for non-filing of Form 67 within the due date is justified, considering that DTAA provisions override the Act and Rule 128(9) is directory.

Which sections of the Income-tax Act were involved?

Section 90(2),Section 139(1),Section 139(4),Section 154

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Income Tax Appellate Tribunal, “A” BENCH : BANGALORE

Before: SHRI GEORGE GEORGE K. & SHRI LAXMI PRASAD SAHU

For Appellant: Smt. Vaidehi G., CA
For Respondent: Ms. Neha Sahay, Jt.CIT(DR)(ITAT), Bengaluru
Hearing: 09.10.2024Pronounced: 22.10.2024

Per Laxmi Prasad Sahu, Accountant Member This appeal is filed by the assessee against the order dated 12.06.2024 of the CIT(Appeals), National Faceless Appeal Centre, Delhi [NFAC], for the AY 2017-18 on the following grounds :-

“ 1. In the facts and circumstances of the case and in law, the learned Commissioner of Income Tax (Appeals) ADDL/JCIT (A)-2 Gurugram (herein referred to id. CIT(A)') had erred in upholding the disallowance made by Centralized Processing Centre (`CPC') u/s 143(1) of the Income Tax Act 1961 (`the Act') in respect of foreign tax credit of INR 7,05,587 again

The order continues below.

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