2025 (8) TMI 691

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....3.2020 denying Foreign Tax Credit of Rs. 3,82,049/- as claimed by the assessee u/s 90/91 of the Act. The same was denied for delay in filing of requisite Form 67 along with return of income. 2. At the outset, it is noted that the appeal has been filed after delay of '463' days and the assessee has filed an affidavit explaining the delay. Having gone through the contents of the affidavit, we are satisfied that there is sufficient cause for the delay. Therefore, we condone the delay of '463' days and proceed to adjudicate the grounds of appeal raised by the assessee. 3. The assessee has filed Form 67 beyond due date 31.08.2018 prescribed u/s 139(1). Form 67 was filed by the assessee on 21.09.2018 after due date and lay claim on the cred....

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....omplied by the assessee, but same was filed before the completion of the assessment proceedings. Precisely, the fact shows that assessee filed return of income u/s 139 (1) of the income tax act. In such a return of income, she claimed the foreign tax credit. However, form number 67 was filed during the course of assessment proceedings and not before the due date of filing return. Rule 128 (9) of the Income-tax Rules, 1962 provides that 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 due date specified for furnishing the return of income under subsection (1) of section 139, in the manner specified for fur....

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....7 on or before the end of the assessment year. Therefore, legislature in its own wisdom has extended such date which is beyond the due date of filing of the return of income. Further, the fact in the present case is quite distinct then the issue involved in the decision of the honourable Supreme Court in case of Wipro Ltd (supra). Here it is not the case of violation of any of the provisions of the act but of the rule, which does not provide for any consequence, if not complied with. Therefore, respectfully following the decisions of the coordinate bench on this issue, we 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 Th....