2026 (8) TMI 49

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....1. On the facts and circumstances of the case and in law, the Ld. ADL, JCIT Appeals has erred in confirming the action of the Ld. Assessing Officer, CPC Ld. AO of not allowing Foreign Tax Credit FTC of INR. 28,35,925 allowable as per Section 90 of the Income Tax Act, 1961 Act read with Article 24 of the India UK Double Taxation Avoidance Agreement DTAA read with CBDT circular 333 dated 02 April 1982, in the Intimation under Section 143 1 of the Act on the premise that Form 67 in support of FTC was filed beyond the due date as prescribed under Rule 128 9 of the Act. It is prayed that the Ld. Jurisdictional Assessing Officer JAO be directed to allow FTC of INR. 28,35,925 as the order of the Ld. ADDL JCIT A is contrary to the decision of the H....

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....iability Page No 15 of Order Intimation u s 154 dated 7 01 2025 in spite of the fact that 4 Annexure FSI As Computed Page No.24 to the Order Intimation us 154 itself confirms that Foreign Tax Credit of INR 28,35,925 has been granted to the Assessee. Further Annexure TR As computed Page No.25 to the Order Intimation u s 154 also confirms that Assessee is eligible for Foreign Tax credit of INR 28,35,925. It is therefore prayed that the learned Jurisdictional Assessing Officer Ld. JAO be directed to grant the Foreign Tax Credit FTC of INR 28,35,925. 5. The Appellant craves leave to add, amend, alter, vary, and OR withdraw any OR all of the above grounds of appeal." 2. Rival submissions of both the parties have been heard and record....

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....ld not be denied on such delay. 3. On the other hand, learned Senior Departmental Representative (ld. Sr. DR) for the Revenue supported the order of lower authorities. 4. We have considered the rival submissions of both the parties. We find that there is very limited dispute before us. Admittedly, the return of income was filed by assessee in time. The claim of credit of foreign tax paid by his employer against the salary was not allowed to the assessee. The CPC / AO denied such credit for the want of Form 67. We find that before filing application for rectification of order, the assessee already uploaded Form 67 on the prescribed manner. The ld. CIT(A) upheld the action of AO by taking view that filing of Form 67 before time limit un....