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TMI Blog2024 (5) TMI 1208X X X X Extracts X X X X X X X X Extracts X X X X ..... t year. The Rule nowhere provides that if the said Form 67 is not filed within the above stated time frame or incorrectly filed within time frame and rectified later on, the relief as sought by the assessee u/s 90 of the Act would be denied. It was not the legislative intention to deny the FTC, either under the Act or Rules. Filing of Form 67 is a procedural/directory requirement and is not a mandatory requirement. It was submitted that violation of procedural norm does not extinguish the substantive right of claiming the credit of FTC. Thus JAO is directed to allow the foreign tax credit limited to proportion of Indian tax payable. Decided in favour of assessee. - Dr. B. R. R. Kumar, Accountant Member And Sh. Sudhir Kumar, Judicial Membe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... incorrect disclosure of income can be fixed by fling this return. Ground No. 4: That there is no condition prescribed in DTAA that the FTC can be disallowed for non-compliance with any procedural provision. 3. Heard the arguments of both the parties and perused the material available on record. 4. The Assessee is an individual and earned income from salary and interest. The salary derived by him is from a company based in U.S.A, which credits his salary after withholding tax as per the tax laws of U.S. Therefore, the Assessee claims the benefit of Foreign Tax Credit for the taxes withheld in by the U.S. Tax Authorities. 5. In the case under consideration, the assessee filed the original ITR for A.Y. 2020-21 vide Acknowledgement No. 1924669 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ule 128(9) provides that Form 67 should be filed on or before the due date of filing the return of income as prescribed u/s 139(1) of the Act, which is recently amended and provided for filling before the end of assessment year. However, the Rule nowhere provides that if the said Form 67 is not filed within the above stated time frame or incorrectly filed within time frame and rectified later on, the relief as sought by the assessee u/s 90 of the Act would be denied. It was not the legislative intention to deny the FTC, either under the Act or Rules. Filing of Form 67 is a procedural/directory requirement and is not a mandatory requirement. It was submitted that violation of procedural norm does not extinguish the substantive right of claim ..... X X X X Extracts X X X X X X X X Extracts X X X X
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