CHIRASREE DASGUPTA,KOLKATA vs. I.T.O., WARD - 33(2), KOLKATA, KOLKATA

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ITA 1727/KOL/2024Status: DisposedITAT Kolkata21 October 2024AY 2020-2021Bench: Shri Sanjay Garg (Judicial Member), Shri Sanjay Awasthi (Accountant Member)3 pages

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal set aside the order of the CIT(A) and restored the matter to the AO. The AO was directed to examine Form 67 and grant the FTC accordingly.

What were the facts?

The assessee appealed against the denial of Foreign Tax Credit (FTC) by the Assessing Officer due to late filing of Form 67. The assessee argued that FTC can be allowed even with late filing of Form 67, citing various case laws.

What were the issues?

Whether Foreign Tax Credit (FTC) can be granted when Form 67 is filed late. The admissibility of FTC despite procedural delays in filing necessary forms.

Which sections of the Income-tax Act were involved?

Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH KOLKATA

Before: Shri Sanjay Garg & Shri Sanjay Awasthi

Per Sanjay Garg, Judicial Member :

The present appeal has been preferred by the assessee against the order dated 18.06.2024 of the Ld. Commissioner of Income Tax (Appeals), Addl/JCIT(A)-7, Delhi [hereinafter referred to as the “Ld. CIT(A)”] passed u/s. 250 of the Income-tax Act, 1961 (hereinafter referred to as the “Act”) for AY 2020-21.

The sole issue raised by the assessee through these grounds of appeal

is relating to the non-grant of Foreign Tax Credit (FTS) of Rs.5,19,775/- instead of allowing FTC of Rs.5,402/- only.

3. The Ld. Counsel for the assessee has submitted that the Assessing Officer ( in short “the AO”) has denied the FTC to the assessee on account of late submission of Form

67. The Ld. Counsel for the assessee has relied on the following case laws to submit that the AY: 2020-21, Chirasree Dasgupta FTC can be allowed to the assessee even if Form 67 is filed late or even filed before the First Appellate Authority:

* Income tax Officer vs. Sandip Choubey (ITA No.742/Kol/2022) (Order of the Hon’ble ITAT in the case of another employee of my employer Pricewaterhousecoopers Private Limited for the very same Assessment Year i.e. 2020-21 relating to FTC as per Article 25 of the India –United States of America DTAA). Sartreena Consultants Pvt. Ltd., Kolkata v. ITO,Ward-11(1) (ITA 543/Kol/2022). * Sonakshi Sinha vs. CIT (ITA No.1704/Mum/2022.

Ld. DR could not rebut the aforesaid proposition of law submitted by the Ld. Counsel for the assessee.

5. In view of this, the impugned order of Ld. CIT(A) is set aside and the matter is restored to the file of the AO with a direction to examine the Form 67 etc. and thereafter to give the credit of the FTC accordingly.

In the result, the appeal of the assessee stands allowed for statistical purposes.

Order is pronounced in the open court.

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