Basavalinga Sadasivaiah Ajaikumar vs. The Asst. Director of Income Tax, CPC Bengaluru

Parties Involved

Facts Summary

The assessee filed a revised return of income on 19/06/2020 claiming foreign tax credit of Rs. 52,43,835/- which was supported by Form 67. However, the intimation generated under section 143(1) of the Act on 17/03/2021 denied the foreign tax credit. The assessee appealed against this order, arguing that the delay in filing Form 67 should not disqualify the claim for foreign tax credit. The assessee relied on the Double Taxation Avoidance Agreement (DTAA) and relevant case laws to support the claim.…

Legal Issues

• 1. Whether the delay in filing Form 67 disqualifies the assessee from claiming foreign tax credit?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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