Yogesh Nandlal Chande v/s Income Tax Officer

Parties Involved

Facts Summary

The assessee, Yogesh Nandlal Chande, filed an appeal against the order passed by the Commissioner of Income Tax (Appeals) for the assessment year 2020–21. The assessee challenged the denial of foreign tax credit of Rs.6,99,334 pertaining to foreign sourced salary income of Rs.48,55,367. The assessee had filed Form no.67 to claim foreign tax credit, but the lower authorities denied the credit due to delay in filing the form. The assessee argued that Rule 128(9) of the Income Tax Rules does not provide for disallowance of foreign tax credit in case of delay in filing Form No.67 and that the Double Taxation Avoidance Agreement (DTAA) overrides the provisions of the Act and the rules. The Tribunal allowed the appeal and granted the foreign tax credit to the assessee.…

Legal Issues

• 1. Denial of foreign tax credit due to delay in filing Form no.67

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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