2015 (8) TMI 1361

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.... "1. Claim of foreign tax credit - Rs. 21,32,548 1.1. The learned Commissioner of Income-tax (Appeals) ["CIT(A)"] has erred in not granting the claim of foreign tax credit amounting to Rs. 2,132,548." 3. The assessee is a company. It provides software development services to its customers. It is a Software Technology Park of India (STPI) unit entitled to claim deduction u/s.10A of the Act. It filed the original return of income on 28.9.2010 declaring a total income of Rs. 2,386,058/-for the AY 2010-11. Subsequently, a revised return was filed on 29.03.2012 for the purpose of claiming Foreign Tax Credit ('FTC') of Rs. 21,32,548. The assessee was liable to pay taxes as per the provisions of Minimum Alternate Tax (MAT). 4. Th....

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....sions. From a perusal of the annexures filed by the assessee along with the written submissions for A.Y. 2010-11, it is observed that the assessee had electronically filed its return on 28.9.2010. In the said return, in col. No.10, no tax relief u/s. 90 or 91 has been claimed. The assessee filed a revised return on 29.3.2012 electronically. In Col. 10 of this return, the assessee had claimed relief u/s. 90 of Rs. 21,32,548. The return has been filed by the assessee within the time contemplated u/s. 139(1) of the Act. Neither the AO nor the CIT(Appeals) considered the claim of assessee in the revised return of income filed. We are therefore of the view that the claim of assessee for FTC has been made in the return of income and had been omit....