Income Tax Appellate Tribunal 'C' Bench, Chennai

Parties Involved

Facts Summary

The appeal by the revenue for the Assessment Year 2017-18 arises from the order of the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi, dated 22-12-2023. The order denied Foreign Tax Credit of Rs.63,43,287/- claimed by the assessee under sections 90/91 of the Act due to delay in filing Form 67. The assessee filed Form 67 on 12.12.2017 after the due date of 30.11.2017. The Commissioner of Income Tax (Appeals) upheld the denial of the Foreign Tax Credit. The revenue filed an appeal against this order, which was initially barred by limitation due to a 64-day delay. However, the delay was condoned due to the transition from manual to digital mode, which caused oversight in filing the appeal.…

Legal Issues

• 1. Whether the assessee is entitled to foreign tax credit despite the delay in filing Form 67?

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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