KRISHNASWAMY BALASUBRAMANIAN SHRI GANESH ,THANJAVUR vs. ITO, CHE-W-(511)-(91), CHENNAI

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ITA 469/CHNY/2024Status: DisposedITAT Chennai06 May 2024AY 2020-21Bench: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON’BLE SHRI MANU KUMAR GIRI (Judicial Member)2 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that filing Form No. 67 is directory in nature, not mandatory. Therefore, the denial of Foreign Tax Credit based on late filing of the form was incorrect.

What were the facts?

The assessee was denied Foreign Tax Credit because Form No. 67 was filed after the due date for furnishing the return of income. The CIT(A) confirmed this denial, stating the form was filed after the intimation order was passed.

What were the issues?

Whether the late filing of Form No. 67 renders the assessee ineligible for Foreign Tax Credit, considering the directory nature of the rule.

Which sections of the Income-tax Act were involved?

Section 139(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, CHENNAI

Before: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM & HON’BLE SHRI MANU KUMAR GIRI, JM

आयकर अपीलीय अिधकरण “ए” �ायपीठ चे�ई म�। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, CHENNAI माननीय �ी मनोज कुमार अ�वाल ,लेखा सद# एवं माननीय �ी मनु कुमार िग&र, �ाियक सद# के सम'। BEFORE HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON’BLE SHRI MANU KUMAR GIRI, JM आयकरअपील सं./ (िनधा(रण वष( / Assessment Year: 2020-21) Mr.Krishnaswamy Balasubramanian Shri ITO बनाम/ Ganesh CHE-W-(511)-(91), No.15, Rail Nagar, Chennai. Vs. Medical College Road, Thanjavur – 613 004. �थायीलेखासं./जीआइआरसं./PAN/GIR No. CTDPS-2722-P (अपीलाथ�/Appellant) : (� थ� / Respondent) अपीलाथ�कीओरसे/ Appellant by : None � थ�कीओरसे/Respondent by : Shri AR V Sreenivasan (Addl.CIT) - Ld. Sr. DR सुनवाईकीतारीख/Date of Hearing : 30-04-2024 घोषणाकीतारीख /Date of Pronouncement : 06-05-2024 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member)

1.

Aforesaid appeal by assessee for Assessment Year (AY) 2020-21 arises out of the order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 30-11-2023 in the matter of an intimation issued by CPC u/s 143(1) of the Act on 24-12-2021. At the time of hearing none appeared for the assessee. The registry has noted delay of 23 days in the appeal. Considering the period of delay, the delay is condoned and we proceed for adjudication of appeal on merits.

2.

The assessee was denied Foreign Tax Credit of Rs.63,928/- in view of the fact that the assessee filed applicable Form No.67 after due date of furnishing of return of income u/s 139(1). The ld. CIT(A) confirmed the same on the ground that intimation order was passed on 24-12-2021 whereas the assessee filed this form on 03-01-2022. Aggrieved, the assessee is in further appeal before us.

3.

We find that this issue is squarely covered by the decision of Hon’ble High Court of Madras in the case of Duraiswamy Kumaraswamy (WP No.5834 of 2022 & ors. order dated 06.10.2023) holding that filing of aforesaid form in terms of Rule 128 is only directory in nature. The rule is only for the implementation of the provisions of the act and it will always be directory in nature. Respectfully following the same, we direct Ld. AO to grant impugned credit. 4. The appeal stand allowed. Order pronounced on 6th May, 2024

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