TaxTMI 
TaxTMI 
2022 (12) TMI 395
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....learned CIT(A)"], which in turn arose from the intimation dated 08/03/2021, issued under section 143(1), for the assessment year 2019-20. 2. In this appeal, the assessee has raised the following grounds: "1. The order passed by the Ld. CIT(A) under section 250 of the Income Tax Act ("The Act") is a vitiated order as both, the Dy./Asst. Commissioner of Income Tax, CPC, Bangalore ("the Ld. AO")/Ld. CIT(A), on the facts and in law, has erred in denying the claim of tax credit under section 91 of the Act amounting to Rs. 11,79,796/- claimed by the Appellant via filing of Form 67 as per Rule 128 of the Income Tax Rules, 1962 ("The Rules"). 2. That the NFAC has erred in denying the tax credit of amount Rs. 11,79,796/- without....
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....the case as emanating from the record are: The assessee is an individual. The assessee filed her original return of income under section 139(1) of the Act on 20/08/2019. Thereafter, the assessee filed a revised return of income under section 139(5) of the Act on 26/08/2020, declaring a total income of Rs. 60,58,060, along with the computation of income and Form No.67 for claiming foreign tax credit. The revised return filed by the assessee was processed vide intimation dated 08/03/2021 issued under section 143(1) of the Act, whereby the foreign tax credit of Rs. 11,79,796, claimed under section 91 of the Act was denied. The learned CIT(A) vide impugned order dismissed the appeal filed by the assessee on the basis that Form No.67, was filed ....
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....rd. In the present case, the assessee filed the revised return of income under section 139(5) of the Act on 26/08/2020, and claimed the foreign tax credit of Rs. 11,79,796. It is the claim of the assessee that she has received certain income amounting to Rs. 48,10,498, from foreign sources, on which tax was already paid in Ghana. Due to certain factors beyond her control, the assessee received Form No.67, after some delay. However, as soon as the assessee received the aforesaid Form, she filed a revised return of income under section 139(5) of the Act. In the present case, both the original return of income and revised return of income were filed by the assessee before the due date and there is no dispute on this aspect by the Revenue. The ....
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....endment) Rules, 2022, w.r.e.f. 01/04/2022 and the same reads as under: "(9) The statement in Form No. 67 referred to in clause (i) of sub-rule (8) and the certificate or the statement referred to in clause (ii) of sub-rule (8) shall be furnished on or before the end of the assessment year relevant to the previous year in which the income referred to in sub-rule (1) has been offered to tax or assessed to tax in India and the return for such assessment year has been furnished within the time specified under sub-section (1) or sub-section (4) of section 139:" 9. Thus with effect from 01/04/2022, the time period for furnishing statement in Form No. 67 has been extended till the end of the assessment year in which the corresponding i....
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.... the return of income under sub-section (1) of section 139, in the manner specified for furnishing such return of income. We find that coordinate bench in 42 Hertz Software India (P.) Ltd v. ACIT [2022] 139 taxmann.com 448 (Bangalore - Trib.) wherein following its earlier order in the case of Ms. Brinda Rama Krishna v.ITO [2022] 135 taxmann.com 358 (Bang Trib) it was held that "one of the requirements of Rule128 for claiming FTC is that Form 67 is to be submitted by assessee before filing of the returns and that this requirement cannot be treated as mandatory, rather it is directory in nature. This is because, Rule 128(9) does not provide for disallowance of FTC in case of delay in filing Form No. 67. Same view is also taken by a coordinate....
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....hold the assessee is eligible for foreign tax credit, as she has filed form number 67 before completion of the assessment, though not in accordance with rule 128 (9) of The Income Tax Rules, which provided that such form shall be filed on or before the due date of filing of the return of income. Accordingly, ground number 2 of the appeal of the assessee is allowed." 11. We further find that in another decision in Anuj Bhagwati vs DCIT, in ITAs No.1844 and 1845/Mum./2022, the coordinate bench of the Tribunal vide order dated 20/09/2022, while deciding a similar issue held that section 90/91 of the Act has not been amended insofar as grant of foreign tax credit is concerned and Rules cannot override the Act and therefore filing of Form No.....