Shri Vivek Singhal vs. The Deputy Commissioner of Income Tax

Parties Involved

Facts Summary

The assessee, Shri Vivek Singhal, claimed foreign tax credit while filing his return of income for the assessment year 2017-18. The Assessing Officer (AO) denied the foreign tax credit on the ground that the assessee had not filed Form 67 along with the return. The assessee appealed to the Commissioner of Income Tax (Appeals) (CIT(A)), arguing that the foreign income was reported and tax dues were paid in India. The CIT(A) dismissed the appeal, holding that Form 67 should have been filed along with the return. The assessee then appealed to the Income Tax Appellate Tribunal (ITAT).…

Legal Issues

• 1. Whether the foreign tax credit should be disallowed for non-filing of Form 67 within the due date.
• 2. Whether the disallowance of foreign tax credit is in line with previous ITAT decisions.
• 3. Whether consequential interest under sections 234B and 234C should be deleted.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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