2023 (5) TMI 705

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.... : Sri. Sunil Kumar Singh, CIT-DR ORDER PER GEORGE GEORGE K, JM : This appeal at the instance of the assessee is directed against CIT(A)'s order dated 22.02.2023 passed u/s 250 of the Income-tax Act, 1961 ("the Act" for short). The relevant assessment year is 2020-2021. 2. The solitary issue raised is whether the CIT(A) is justified in confirming disallowance of claim of Foreign Tax Cr....

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....iled rectification u/s 154 of the Act on 14.12.2021. The rectification order u/s 154 of the Act dated 26.04.2022 was passed not granting the claim of the assessee. 5. Aggrieved, the assessee filed an appeal before the first appellate authority. The CIT(A) confirmed the order of rectification and held that the assessee has not filed Form No.67 before the prescribed time limit. Therefore, it was ....

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....datory. 7. The learned Departmental Representative supported the orders of the A.O. and the CIT(A). 8. We have heard rival submissions and perused the material on record. The solitary issue raised is whether the CIT(A) was justified in confirming the disallowance of FTC claimed. The sole reason for denying the benefit of FTC was that Form No.67 has been filed belatedly after the due date of ....

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....tive right of claiming the credit of FTC. The relevant finding of the Bangalore Bench of the Tribunal, reads as follows:- "16. I have given a careful consideration to the rival submissions. I agree with the contentions put forth by the learned counsel for the Assessee and hold that (i) Rule 128(9) of the Rules does not provide for disallowance of FTC in case of delay in filing Form No.67;....