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“foreign tax credit”

International TaxSection 90 / Rule 128Section 90 / Rule 128571 judgments

The decision most relied on for foreign tax credit is Chandra Kishore Jha v. Mahavir Prasad (8 SCC 266), cited in 163 judgments on BharatTax.

Leading authorities on foreign tax credit

Chandra Kishore Jha v. Mahavir Prasad
8 SCC 266 · 1999 · Supreme Court
163
citing judgments

If a statute or law prescribes that a thing must be done in a particular manner, then it must be done in that manner alone and in no other way. This principle mandates strict adherence to statutory procedures.

Wipro Ltd. v. DCIT
382 ITR 179 · 2016 · High Court
122
citing judgments

Foreign Tax Credit (FTC) is allowable even if no tax is paid in India on the corresponding income due to deductions under sections 10A or 10AA, or losses in other units. The scope of income eligible for deduction under Section 10AA includes interest on deposits and realized gains on forward contracts.

Ms. Brinda Ramakrishna v. ITO
135 Taxmann.com 358 · 2022 · ITAT
109
citing judgments

The filing of Form 67 for claiming Foreign Tax Credit (FTC) is a directory requirement, not mandatory. Rule 128(9) does not provide for disallowance of FTC due to delay in filing this form. Double Taxation Avoidance Agreements (DTAAs) override domestic law.

CIT v. ACE Multitaxes Systems (P.) Ltd.
317 ITR 207 · 2009 · High Court
107
citing judgments

For claiming relief under Chapter VI-A deductions like Section 80IB or 80IA, the audit report in Form 10CCB is not mandatory to be filed with the return of income, but can be submitted before the assessment is completed.

Sambhaji and Others v. Gangabai and Others
17 SCC 117 · 2008 · Supreme Court
87
citing judgments

Procedural law serves as an aid to justice, not an obstruction, and should not ordinarily be construed as mandatory; it is subservient to substantive justice.

42 Hertz Software India (P.) Ltd. v. ACIT
139 Taxmann.com 448 · 2022 · ITAT
62
citing judgments

The claim for Foreign Tax Credit cannot be denied solely due to a delay in filing Form-67, as the requirement for filing Form-67 under Rule 128(9) is considered directory and not mandatory. The provisions of a Double Taxation Avoidance Agreement (DTAA) prevail over the Income-tax Act, 1961.

Duraiswamy Kumaraswamy v. PCIT
460 ITR 615 · 2024 · High Court
50
citing judgments

An assessee's claim for Foreign Tax Credit (FTC) cannot be rejected merely because Form 67 was filed after the due date under section 139(1), provided it is filed before the completion of assessment proceedings.

Sonakshi Sinha v. CIT
142 Taxmann.com 414 · 2022 · ITAT
37
citing judgments

The requirement to file Form 67 by the due date for claiming foreign tax credit is directory, not mandatory, if filed before the completion of assessment proceedings.

Judgments citing foreign tax credit

Asst.C.I.T., Bangalore vs. M/S Tejas Networks Limited, Bangalore

In the result, the appeals filed by the revenue in IT(TP)A No

ITA 296/BANG/2015[2010-11]Status: DisposedITAT Bangalore09 Feb 2022AY 2010-11

Bench: Shri Chandra Poojari & Shri George George K.It(Tp)A Nos.296/Bang/2015 Assessment Year: 2010-11 M/S. Tejas Networks Ltd. Plot No.25, 5Th Floor Jp Software Park Acit, Circle-1, Ltu Vs. Electronic City, Phase I Bangalore Bangalore 560 100

For Appellant: Shri Jairam Raipura, D.RFor Respondent: Shri Annamalli & Shri Narendra Sharma, A.Rs
Section 154

ought to have provided depreciation to the assessee, which is consequential to the assessment proceedings of AY 2010-11. 11. Non-grant of foreign tax credit 11.1. The learned AO erred in not granting eligible foreign tax credit to the assessee as claimed in the return of income amounting ... learned AO granted the foreign tax credit in the draft assessment order and has arbitrarily not allowed the same in the final assessment order. 12. Short credit of tax deducted at source 12.1. The learned AO erred in not considering the credit for Tax Deducted at Source ("TDS") amounting

DCIT, Bangalore vs. M/S Tejas Networks Limited, Bangalore

In the result, the appeals filed by the revenue in IT(TP)A No

ITA 1119/BANG/2015[2010-11]Status: DisposedITAT Bangalore09 Feb 2022AY 2010-11

Bench: Shri Chandra Poojari & Shri George George K.It(Tp)A Nos.296/Bang/2015 Assessment Year: 2010-11 M/S. Tejas Networks Ltd. Plot No.25, 5Th Floor Jp Software Park Acit, Circle-1, Ltu Vs. Electronic City, Phase I Bangalore Bangalore 560 100

For Appellant: Shri Jairam Raipura, D.RFor Respondent: Shri Annamalli & Shri Narendra Sharma, A.Rs
Section 154

ought to have provided depreciation to the assessee, which is consequential to the assessment proceedings of AY 2010-11. 11. Non-grant of foreign tax credit 11.1. The learned AO erred in not granting eligible foreign tax credit to the assessee as claimed in the return of income amounting ... learned AO granted the foreign tax credit in the draft assessment order and has arbitrarily not allowed the same in the final assessment order. 12. Short credit of tax deducted at source 12.1. The learned AO erred in not considering the credit for Tax Deducted at Source ("TDS") amounting

M/S Robert Bosch Engineering and Business Solutions Private Limited, Bangalore vs. DCIT, Bangalore

In the result, the appeal filed by assessee stands allowed as indicated above and the appeal filed by revenue stands dismissed

ITA 608/BANG/2016[2011-12]Status: DisposedITAT Bangalore02 Feb 2022AY 2011-12

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 608/Bang/2016 Assessment Year : 2011-12 M/S. Robert Bosch The Deputy Engineering & Business Commissioner Of Solutions Pvt. Ltd., Income Tax, #123, Industrial Layout, Large Tax Payers Unit, Hosur Road, Koramangala, Circle 1, Bangalore – 560095. Vs. Bangalore. Pan: Aaacr7108R Appellant Respondent & It(Tp)A No. 445/Bang/2016 Assessment Year : 2011-12 (By Revenue) : Shri Percy Padiwala, Sr. Assessee By Advocate : Shri Sumer Singh Meena, Cit Revenue By Dr (Osd) Date Of Hearing : 20-12-2021 Date Of Pronouncement : 02-02-2022 Order Per Beena Pillaipresent Cross Appeals Are Filed By Assessee As Well As Revenue Against The Final Assessment Order Dated 28.01.2016 By The Ld.Dcit, Ltu, Circle -1, Bangalore U/S. 143(3) R.W.S. 144C Of The Act For Assessment Year 2011-12. In Revenue’S Appeal, The Following Grounds Are Raised. “1. The Directions Of Drp Is Opposed To Law & Facts Of The Case.

Section 10ASection 143(3)Section 144CSection 14ASection 80J

Pricing Officer in his order dated January 30, 2015 and the DRP Directions dated December 17, 2015. Other Corporate Tax Matters - A. Additional Foreign Tax Credit Claim: 4. The Appellant has been filing its return of income in India and in all the other counties where a Permanent Establishment ... established as per the applicable local laws. The taxes paid by the P Es / Branch in those countries are claimed by way of Foreign Tax Credit by the Appellant in its Indian income-tax return. In the Return of Income filed by the Appellant's German PE for the Calendar

DCIT, Bangalore vs. M/S Robert Bosch Engineering & Business Solutions Private Limited, Bangalore

In the result, the appeal filed by assessee stands allowed as indicated above and the appeal filed by revenue stands dismissed

ITA 445/BANG/2016[2011-12]Status: DisposedITAT Bangalore02 Feb 2022AY 2011-12

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 608/Bang/2016 Assessment Year : 2011-12 M/S. Robert Bosch The Deputy Engineering & Business Commissioner Of Solutions Pvt. Ltd., Income Tax, #123, Industrial Layout, Large Tax Payers Unit, Hosur Road, Koramangala, Circle 1, Bangalore – 560095. Vs. Bangalore. Pan: Aaacr7108R Appellant Respondent & It(Tp)A No. 445/Bang/2016 Assessment Year : 2011-12 (By Revenue) : Shri Percy Padiwala, Sr. Assessee By Advocate : Shri Sumer Singh Meena, Cit Revenue By Dr (Osd) Date Of Hearing : 20-12-2021 Date Of Pronouncement : 02-02-2022 Order Per Beena Pillaipresent Cross Appeals Are Filed By Assessee As Well As Revenue Against The Final Assessment Order Dated 28.01.2016 By The Ld.Dcit, Ltu, Circle -1, Bangalore U/S. 143(3) R.W.S. 144C Of The Act For Assessment Year 2011-12. In Revenue’S Appeal, The Following Grounds Are Raised. “1. The Directions Of Drp Is Opposed To Law & Facts Of The Case.

Section 10ASection 143(3)Section 144CSection 14ASection 80J

Pricing Officer in his order dated January 30, 2015 and the DRP Directions dated December 17, 2015. Other Corporate Tax Matters - A. Additional Foreign Tax Credit Claim: 4. The Appellant has been filing its return of income in India and in all the other counties where a Permanent Establishment ... established as per the applicable local laws. The taxes paid by the P Es / Branch in those countries are claimed by way of Foreign Tax Credit by the Appellant in its Indian income-tax return. In the Return of Income filed by the Appellant's German PE for the Calendar

Pradeep Lankapalli, Bangalore vs. Deputy Commissioner of Income Tax, Circle-5(3)(2), Bangalore

In the result, the appeal filed by assessee stands allowed for statistical purposes

ITA 560/BANG/2021[2018-19]Status: DisposedITAT Bangalore31 Jan 2022AY 2018-19
For Appellant: Smt. Rashmi .R, Advocate
Section 139Section 139(1)Section 139(5)Section 90Section 90(2)

Income-tax Appeals ["CIT(A)], the learned Assessing Officer ("AO") and the Central Processing Centre ("CPC") have erred in not granting the Foreign Tax credit ("FTC") to the extent of Rs. 15,87,973/- as claimed in the revised return of income per the provision of the Income Tax ... entitled for taxes paid/deducted in US against the income declared in Indian Income Tax, if the appellant follow the procedures for getting foreign tax credit as Rule 128 of the Income Tax Rule. As per the sub-rule 9 of rule 128, the appellant is required to furnish Form

ACIT, New Delhi vs. M/S Krishak Bharati Cooperative Ltd., New Delhi

In the result, the appeal of the assessee in ITA No

ITA 2973/DEL/2017[2011-12]Status: DisposedITAT Delhi29 Dec 2021AY 2011-12

Bench: Shri Anil Chaturvedi & Shri Kul Bharat

Section 143(3)Section 14ASection 263

upon the decision of the Hon'ble ITAT in assessee's own case for the AY 2010-11 without appreciating the fact that foreign tax credit is allowable only when tax has been actually paid in a foreign country (Oman) and the benefit of para-4 of article ... upon the decision of the Hon'ble ITAT in assessee's own case for the AY 2010-11 without appreciating the fact that foreign tax credit is allowable only when tax has been actually paid in a foreign country (Oman) and the benefit of para-4 of article

ACIT, New Delhi vs. M/S Krishak Bharati Cooperative Ltd., New Delhi

In the result, the appeal of the assessee in ITA No

ITA 2972/DEL/2017[2010-11]Status: DisposedITAT Delhi29 Dec 2021AY 2010-11

Bench: Shri Anil Chaturvedi & Shri Kul Bharat

Section 143(3)Section 14ASection 263

upon the decision of the Hon'ble ITAT in assessee's own case for the AY 2010-11 without appreciating the fact that foreign tax credit is allowable only when tax has been actually paid in a foreign country (Oman) and the benefit of para-4 of article ... upon the decision of the Hon'ble ITAT in assessee's own case for the AY 2010-11 without appreciating the fact that foreign tax credit is allowable only when tax has been actually paid in a foreign country (Oman) and the benefit of para-4 of article

M/S. Krishak Bharti Cooperative Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee in ITA No

ITA 2342/DEL/2017[2011-12]Status: DisposedITAT Delhi29 Dec 2021AY 2011-12

Bench: Shri Anil Chaturvedi & Shri Kul Bharat

Section 143(3)Section 14ASection 263

upon the decision of the Hon'ble ITAT in assessee's own case for the AY 2010-11 without appreciating the fact that foreign tax credit is allowable only when tax has been actually paid in a foreign country (Oman) and the benefit of para-4 of article ... upon the decision of the Hon'ble ITAT in assessee's own case for the AY 2010-11 without appreciating the fact that foreign tax credit is allowable only when tax has been actually paid in a foreign country (Oman) and the benefit of para-4 of article

M/S. Krishak Bharti Cooperative Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee in ITA No

ITA 2341/DEL/2017[2010-11]Status: DisposedITAT Delhi29 Dec 2021AY 2010-11

Bench: Shri Anil Chaturvedi & Shri Kul Bharat

Section 143(3)Section 14ASection 263

upon the decision of the Hon'ble ITAT in assessee's own case for the AY 2010-11 without appreciating the fact that foreign tax credit is allowable only when tax has been actually paid in a foreign country (Oman) and the benefit of para-4 of article ... upon the decision of the Hon'ble ITAT in assessee's own case for the AY 2010-11 without appreciating the fact that foreign tax credit is allowable only when tax has been actually paid in a foreign country (Oman) and the benefit of para-4 of article

Canon India Pvt. Ltd., Gurgaon vs. ACIT, National Faceless Assesment Center, New Delhi

In the result the appeal of the assessee in ITA

ITA 468/DEL/2021[2004-05]Status: DisposedITAT Delhi20 Oct 2021AY 2004-05

Bench: Shri N.K. Billaiya & Shri Amit Shukla[Assessment Year: 2004-05]

For Appellant: Shri Himanshu Sinha, AdvFor Respondent: Shri Gangadhar Panda, CIT-DR
Section 10ASection 115JSection 143(3)Section 244A

from the first date of paymentof tax, on the income-tax refund due, including refund arising on account of foreign tax credit 3. Representatives of both the sides were heard at length. Case records carefully perused and judicial decisions relied upon by the counsel duly considered. 4. Briefly stated ... India-Japan Treaty. Total tax deducted at source in Japan was Rs. 3,96,12,848/-. 6. The assessee had claimed foreign tax credit of Rs. 5,43,360/- despite total taxes deducted at source in Japan amounting to Rs. 3,96,12,848/-. Limited claim was restricted to actual

Director of Income Tax vs. E Funds It Solution

The appeals are disposed of

ITA - 735 / 2011HC Delhi05 Feb 2014

decrease in income of e-Fund Corp and e-Fund Inc. under the USA tax laws and they would be also entitled to foreign tax credit. The letter states that the said decision would not be binding on subsequent years. Pursuant to these letters, the two assessees had written letter