2022 (6) TMI 693

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s 250(6) of the Act for the AY 2018-19. 2. Brief facts of the case are that the assessee is a salaried employee, who has filed his return of income on 27/03/2019 admitting total income of Rs.1,68,47,360/-. The assessee claimed foreign tax credit of Rs. 37,63,898/- while filing the return of income but has not filed Form-67 as prescribed U/s. 128(9) of the IT Rules, 1961. The case was selected for limited scrutiny on the issue of allowing relief U/s. 90/91 of the Act. Accordingly, statutory notices u/s. 143(2) and 142(1) were issued on the assessee. The assessee furnished the replies through the assessee's representative as required by the AO and also filed Form 67 dated 10/02/2021 for the AY 2018-19. The AO considering the submissions of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f the case. 7. The Appellant craves leave to add, amend and / or alter the stands as the occasion may warrant." 4. The only issue with respect to the grounds raised by the assessee is regarding non-filing of Form 67 and consequential denial of foreign tax credit by invoking the Rule 128(9) of the IT Rules. The Ld. AR submitted that filing of Form 67 is not mandatory but only a directory and hence delay in filing Form 67 is not a valid ground for denial of foreign tax credit as claimed by the assessee in the return of income filed by the assessee. The Ld. AR relied on the Bangalore Bench of the Tribunal in the case of M/s. 42 Hertz Software India Pvt Ltd vs. ACIT in ITA No. 29/Bang/2021, dated 7/3/2022. The ld. AR also submitted ....