9911796707
TMI Blog2024 (12) TMI 72X X X X Extracts X X X X X X X X Extracts X X X X ..... n 154 of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') relating to the Assessment Year 2019-20. 2. Brief facts of the case is that the assessee is an individual and Senior Citizen who has filed his Return of Income declaring income of Rs. 2,63,76,090/- including agriculture income of Rs. 26,02,000/. The return was taken for scrutiny assessment and various notices issued between 21-05-2021 to 29-09-2021. Since the Income Tax Portal was closed from 01-06-2021, the assessee could not upload its reply to the notices issued by the Assessing Officer. Therefore the Assessing Officer passed an exparte assessment order treating the agriculture income as unexplained cash credit u/s. 68 of the Act and also denied the claim of Foreig ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... above submission dismissed the appeal by observing as follows: 4.6 Taxes are paid in an alien nation, the particulars of which can never be verified by the Income tax Authorities in India. It is for such reason that Form no.67 which consists of 4 parts has a verification column, affirming that the claim of the FTC, to the best of the knowledge and belief of the Appellant is true and correct. Providing credit of FTC in the absence of such verification is not logical while the authorities erred in failing to comprehend that the claims are otherwise not verifiable. Further, Rule 128 incorporates the word "Shall", which imply that filing of Form no.67 before the time limit u/s. 139(1) [now extended to 139(4)] is mandatory. Having failed to f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... adras in the case of Duratswamy Kumaraswamy (WP No 5834 of 2022 & ors. order dated 06.10.2003) concluded that the delay in filing Form 67 may be condoned and granted the Foreign Tax Credit claimed. 8. The Appellant submits the denial of the credit by the Commissioner of Income Tax (Appeals) is not in accordance with the law. 9. The learned CITIA erred in not granting the relief u/s. 90 for Foreign Tax Credit as the rectification order passed by the AO u/s. 154 was without a DIN and was violating the guidelines in making the order as per the "PRESS RELEASE" dated 14/08/2019 issued by the CBDT, and hence is not in conformity with the prescribed guidelines and liable to be treated as invalid and quashed. 10. The Appellant craves to add, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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