2024 (9) TMI 280

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..... LD THAT:- We find no merit in the revenue s technical objection once it is come on record that case law Duraiswamy Kumaraswamy [ 2023 (11) TMI 1000 - MADRAS HIGH COURT] had settled the issue in assessee s favour that compliance to the foregoing provision(s) is only directory than mandatory in nature. Learned departmental representative could hardly dispute the fact that the assessee had filed its .....

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..... ollowing impugned grounds in the instant appeal :- 1. The Ld CIT (Appeals) erred in confirming the disallowance of the foreign tax credit towards tax withheld in USA of Rs. 8,61,822/- though Ld CIT(Appeals) had admitted the fact that the Ld AO at CPC has disallowed the foreign tax credit without providing specific for disallowing the foreign tax credit reasons in the intimation u/s 143(1) as well .....

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..... o say, the sole and substantive dispute between the parties is that of the assessee s entitlement to avail foreign tax credit withheld in USA amounting to Rs. 8,61,822/- on the ground that he had failed to file the corresponding prescribed Form 67 under Rule 128(9) before the due date of filing of return u/s 139(1) of the Act. The Revenue vehemently submits that such a condition is indeed mandator .....

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