9911796707
TMI Blog2024 (11) TMI 1101X X X X Extracts X X X X X X X X Extracts X X X X ..... R PER DR. B.R.R. KUMAR, VICE-PRESIDENT : This appeal has been filed by the Assessee against the order passed by the office of the Commissioner of Income-tax (Appeals), ADDL/JCIT(A)- 7, Mumbai (hereinafter referred to as "CIT(A)" for short), dated 14.06.2024 passed under Section 250 of the Income-tax Act, 1961 [hereinafter referred to as "the Act" for short], for Assessment Year (AY) 2021-22. 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... above grounds of appeal." 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 22.03.2022 wherein the credit for Foreign Tax Credit (FTC) was not allowed and demand of Rs. 12,50,630/- has been raised. The As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n India as well as abroad and the tax paid in the foreign country are eligible to be credited towards the total tax payments. Since the factum is not in dispute, delay in filing cannot prejudice the right of the assessee to claim Foreign Tax Credit (FTC). Keeping in view the specificities of the instant case, the Revenue is hereby directed to accord Foreign Tax Credit (FTC) to the assessee and car ..... X X X X Extracts X X X X X X X X Extracts X X X X
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