2026 (8) TMI 1831

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....Year 2023-24. 2. The assessee has raised the following grounds of appeal: 1 The Ld. CTT(A) erred in law and on facts in confirming denial of Foreign Tax Credit of Rs. 14,32,855/- claimed under Section 90/90A, resulting in unjust double taxation. 2 The Ld. CIT(A) failed to appreciate that filing of Form 67 within the due date prescribed under Rule 128(9) is procedural and directory in nature, and not a condition precedent for claiming FTC 3 The Ld. CIT(A) failed to appreciate that: foreign income has been offered to tax in India, taxes have been paid abroad, and documentary evidences are on record. Thus, denial of FTC merely on procedural lapse defeats the principle of substance over form. 4 The impugne....

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....ru, issued a rectification order under Section 154 but again failed to grant relief under section 90/90A. 4. Aggrieved by the assessee order, assessee preferred an appeal before the Ld. CIT(A), who dismissed the appeal of the assessee by observing as follows: 5.1 In this Appeal, the Appellant filed Return of Income for the A.Y. 2023-24 on 27.11.2023 declaring income of Rs. 1,01,32,670/-. Subsequently, the Return was processed CPC with a demand of Rs. 15,69,010/- and did not allow Foreign Tax Credit u/s 90 of the Act. Consequently, the Appellant filed Rectification to CPC, and the CPC processed the rectification u/s 154 of the Act and still did not allow the Foreign Tax Credit u/s 90 of the Act and sustained the order u/s 143(1) ....

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....view of the above, the Appeal is dismissed. 5. Heard the argument of both the parties and perused the material available on record. 6. At the outset, both the parties fairly submitted that the issue raised by the assessee in the present appeal stands covered by the order of the Tribunal in the case of Narendra Vishnubhai Mistry Vs. ITO for A.Y 2021-22 in ITA Nos.1473/Ahd/2024 dated 19.11.2024. For the sake of ready reference, the operative portion of said order is reproduced as under: 3. The facts of the case are that the Assessee during the year under consideration has filed his return of income on 29.12.2021 declaring total income of Rs. 50,62,800/-. The Assessee received an intimation under section 143(1) of the Act dated ....