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TMI Blog2022 (9) TMI 694X X X X Extracts X X X X X X X X Extracts X X X X ..... ailable to the assessee(s). Therefore, once the payments has been included by the assessee(s) in the income and tax have been paid thereon then this credit would certainly be available to the assessee(s). So far as filing of Form 67 is concerned the same has been held to be mere directory requirement by the SMC Bangalore Tribunal [ 2022 (2) TMI 752 - ITAT BANGALORE] This decision has been followed by co-ordinate bench of Bangalore Tribunal in M/s 42 Hertz Software India Pvt. Ltd. [ 2022 (3) TMI 834 - ITAT BANGALORE] and also before the Madras bench in the case of Shri. Govindarajan Roopkumar [ 2022 (9) TMI 557 - ITAT CHENNAI] - We also concur with the same. It is the findings of Ld. CIT(A) that the assessee(s) has already filed For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the penalty for concealment of income , while the Assessing Officer levied the penalty for furnishing inaccurate particulars of income. 4. The learned CIT (A) erred in not considering the vital fact that it is the satisfaction of the Assessing Officer who initiated the penalty proceedings in the course of proceedings before him and certainly not that of the CIT (A), without there being any enhancement, to simply substitute the satisfaction arrived at by the Assessing Officer.[relying on 84 1TR 183[All]; 94 TTR 154 [All] ;77 ITD 340 [Chd] and ITA No: 5046/Del/2012 dt.10/05/2013. 5. While the learned CIT (A), in confirming the addition of Rs.4,93,360/- in the quantum appeal-copy of the appellate order is enclosed-gave a fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 of the Act. While processing the return of income appellant s claim of FTC was denied. Dissatisfied with the above orders, both the assessee(s) filed two separate appeals before the Ld. CIT(A). The appeal of the assessee in ITA No. 440/Chny/2021 was dismissed by Ld. CIT(A) observing as follows: From examination of facts of the case, provisions of section 90(2) of the Act and Article 10 read with article 234) of DTAA with Netherlands, it is evident that the appellant is entitled for taxes paid/deducted in Netherlands against the income declared in Indian Income Tax, if the appellant follow the procedures for getting foreign tax credit as Rule 128 of the Income Tax Rule. As per the sub-rule 8 of rule 128, the appellant is required to f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fore rejected in view of the above discussion, the action of the CPC in denying the FTC to the appellant is upheld and ground 1 is dismissed. Aggrieved by the orders of the CIT(A), both the assessee(s) filed two separate appeals before this Tribunal raising in the identical issues before us. 6. At the time of hearing, the Ld. AR of the assessee submitted that the instant issue is covered in assessee s favour by the decision of co-ordinate bench in the case of Shri. Govindarajan Roopkumar vs ADIT in ITA No. 609/Chny/2021, on the other hand the Ld. Sr. DR submitted that tax credit could not be allowed since the same was not paid by assessee. He also submitted that the assessee did not file mandatory Form 67 as required under the prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rquisites in the gross total income and tax has been paid thereon. Once this income has been offered to tax, the corresponding credit of the same would be available to the assessee(s). Therefore, once the payments has been included by the assessee(s) in the income and tax have been paid thereon then this credit would certainly be available to the assessee(s). So far as filing of Form 67 is concerned the same has been held to be mere directory requirement by the SMC Bangalore Tribunal in the cited decision as under: 16. I have given a careful consideration to the rival submissions. 1 agree with the contentions put forth by the learned counsel for the Assessee and hold that (i) Rule 128(9) of the Rules does not provide for disallowance o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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