Section 128 of the Income Tax Act
The decision most relied on for Section 128 is Duraiswamy Kumaraswamy v. PCIT (460 ITR 615), cited in 50 of the 27 judgments on BharatTax that turn on this section.
Leading authorities on Section 128
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.
When a statute prescribes a specific method for exercising a power, that power must be exercised only in the manner prescribed.
A Commissioner is not justified in not admitting and adjudicating claims made by an appellant under sections 54B and 54F, especially when the Bangalore Tribunal's decision in Rakesh Singh v. ACIT (2012) is relevant.
Furnishing Form 67 before the due date for filing the return of income under section 139(1) is mandatory for claiming Foreign Tax Credit (FTC).
