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2024 (4) TMI 1118 - AT - Income TaxCredit for foreign tax paid - denial of claim as form No.67 was not filed within the due date for filing of the return of income as specified u/s 139(1) - Directory v/s mandatory provisions - appellant had salary income from USA as well as India - HELD THAT - Admittedly, in the present case, Form No.67 was not filed within the due date for filing of the return of income under the provisions of section 139(1), but Form No.67 was filed on 26.03.2021. The CPC, Bangalore had processed the return of income on 06.08.2021 which means that Form No.67 was very much available with the CPC, Bangalore. CPC, Bangalore cannot deny the claim for credit for foreign tax paid merely because Form No.67 was not filed within the due date specified for filing the return of income under the provisions of section 139(1) of the Act, as it is merely a directory. Therefore, we direct the CPC, Bangalore to amend the Intimation u/s 143(1) of the Act for taking into consideration the Form No.67 filed by the appellant. Accordingly, the ground of appeal filed by the assessee stands partly allowed.
Issues Involved:
1. Denial of credit for foreign tax paid due to late filing of Form No.67. Summary: The appeal was filed against the order of National Faceless Appeal Centre, Delhi, regarding the denial of credit for foreign tax paid for the assessment year 2020-21. The appellant, an individual resident, had income from both USA and India. The Form No.67, necessary for claiming credit for foreign tax paid, was filed after the due date for filing the return of income. The CPC, Bangalore, denied the claim, leading to the appeal. The main issue revolved around whether the CPC, Bangalore, was justified in denying the credit for foreign tax paid because Form No.67 was not filed within the due date specified under section 139(1) of the Income Tax Act, 1961. The appellant argued that the filing of Form No.67 within the due date was not mandatory but directory. Despite the late filing, the form was available to the CPC, Bangalore when processing the return. Therefore, the Tribunal directed the CPC to amend the Intimation under section 143(1) to consider the Form No.67 filed by the appellant, partially allowing the appeal. In conclusion, the appeal was partly allowed, emphasizing the importance of considering the substance over technicalities in tax matters.
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