Soumik Chatterjee vs. ITO Ward 33(2), Kolkata

Parties Involved

Facts Summary

The present appeal filed by the assessee, Soumik Chatterjee, arises from an order dated 03.01.2025 passed under section 250 of the Income Tax Act, 1961 by the Ld. Commissioner of Income Tax (Appeals), Additional/Joint Commissioner of Income Tax (Appeals). The assessee filed his return of income on 31.07.2024, which was declared defective/incomplete by CPC. He then filed a revised return of income on 28.08.2024, declaring a total income of Rs. 22,36,190/- and claimed relief under sections 90/90A of the Act amounting to Rs. 5,22,964/-, consequently claiming a refund of Rs. 1,61,640/-. The Form 67 was filed by the assessee on 30.01.2025. The tax amounting to Rs. 2,20,926/- was payable on the income of Rs. 12,85,576/- accrued from Canada. During the appellate proceedings before the Ld. CIT(A), the appellant filed a statement of computation of income claiming tax relief of Rs. 2,20,926/- (foreign tax credit) instead of Rs. 5,22,964/- as claimed in his revised return of income. However, the Ld. CIT(A) dismissed the appeal of the assessee on the ground that the Form 67 was not filed in time.…

Legal Issues

• 1. Whether the foreign tax credit can be disallowed due to delay in filing Form 67.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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