2026 (7) TMI 948

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.... For the Revenue : Dr. Aparna Villuri, Sr.AR ORDER PER OMKARESHWAR CHIDARA, A.M.: This appeal is filed by the assessee against the order of Commissioner of Income Tax (Appeals)/Addl./JCIT(A)-2 Noida ["Ld. CIT(A)] vide DIN & Notice No. ITBA/APL/S/250/2025- 26/1083059265(1) dated 27.11.2025, arising out of order passed by the Ld.AO u/s 154 of the Income Tax Act, 1961 ("the Act") dated 21.0....

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....ntention is that Rule 128(9) does not provide for any penal consequence or disallowance in case of delayed filing of Form 67, hence, disallowance of Foreign Tax Credit is not justified. In view of the same, the appellant filed this appeal before ITAT, requesting to allow Foreign Tax Credit to the appellant and set aside the disallowance made by the Ld. CIT(A). 3. The Ld.AR of the appellant file....

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....tively. Accordingly, we are of the considered view that the Form No. 67 filed belatedly by the assessee i.e., on 19.11.2022 claiming Foreign Tax Credit of Rs. 5,73,915/- under section 90 of the Act deserves to be allowed. 15. Respectfully following the various judicial pronouncements as cited by Ld.AR, and also considering the amendment to Rule 128 including the Explanatory Memorandum, we....

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....ng both the orders of coordinate Bench of Visakhapatnam, this Bench takes a view in favour of the assessee by following the decision of ITAT in assessee's own case for the earlier year for the following reasons : (a) The decision of the coordinate Bench of this Tribunal in the case of Muralikrishna Vaddi was considered and distinguished with the assessee's own case for the earlier year wh....