2023 (6) TMI 86

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....ssment Year is 2020-21. 2. The grounds of appeal raised by the assessee read as follows: General Grounds 1) The impugned appellate order passed by the Ld. CIT(A) under section 250 of the Act to the extent it is pre-judicial to the Appellant is erroneous, bad-in law and contrary to the facts and circumstances of the case. 2) The Ld. CIT(A) has erred on facts and in law in not passing a speaking order. 3) The Ld. CIT(A) has erred on facts and in law in not adjudicating all the grounds of appeal filed by the Appellant. Grounds in relation to Foreign Tax Credit 4) The Ld. CIT(A) has erred on facts in not directing the Assessing Officer (Id. AO') to grant the Foreign Tax Credit for a sum of INR 1,38,21,316 as claimed by the Appe....

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....as erred, in dismissing the Ground of Appeal in relation to levy of additional interest under section 234C of the Act without appreciating that 234C is applicable only on returned income and not on the assessed income. 3. Grounds 1 to 3 are general in nature, no specific adjudication is required and hence the same are dismissed. No contentions were raised with regard to ground Nos.7 to 10, hence the same are dismissed. We shall adjudicate the surviving grounds as under: Grounds in relation to Foreign Tax Credit (FTC) (Grounds 4 to 6) 4. For the Assessment Year 2020-21, the return of income was filed on 18.12.2020 claiming relief under section 90 of the Act for the foreign taxes paid amounting to Rs.1,38,21,316/-. The said amount pertains....

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....allowed for statistical purpose." 6. Aggrieved, the assessee has filed the present appeal before the Tribunal. The learned AR relied on the grounds raised. 7. The learned DR submitted that CIT(A) had restored the issue on FTC to the files of the AO. Therefore, it was submitted that the directions of CIT(A) ought not to be interfered with. 8. We have heard the rival submissions and perused the material on record. The CIT(A), in the impugned order, had stated that prima facie the contentions of the assessee appears to be correct and directed the AO to verify the factual position of the assessee's plea and to allow the claim of the assessee in accordance with law. The directions of the CIT(A) are clear and we see no reason to interfere with....