Foreign Tax Credit claim survives delayed Form 67 filing, with verification remanded for supporting evidence and consequential relief.

Delay in filing Form No. 67, by itself, does not automatically justify denial of Foreign Tax Credit where the substantive claim is otherwise admissible. The text notes that earlier decisions have treated the filing requirement under Rule 128(9) as directory rather than mandatory, but also records that the supporting certificate and particulars had not been verified by the Assessing Officer. The matter was therefore restored for verification of the form and evidence, with consequential allowance of credit in accordance with law if the claim is otherwise substantiated.

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Issues: Whether Foreign Tax Credit could be denied merely because Form No. 67 was filed after the due date under Rule 128(9) of the Income Tax Rules, 1962, and whether the matter required restoration to the Assessing Officer for verification of the form and supporting particulars.

Analysis: The dispute concerned the assessee's claim of Foreign Tax Credit under section 90 of the Income-tax Act, 1961, read with the India-USA DTAA, which was disallowed at the processing stage on the ground that Form No. 67 was not filed within the time contemplated under section 139(1). The Tribunal noted the earlier decisions treating the requirement of filing Form No. 67 as directory rather than mandatory, but also recorded that the supporting certificate had not been examined by the Assessing Officer. In these circumstances, the Tribunal considered it appropriate to secure verification of the form and related evidence before the claim was finally given effect.

Conclusion: Foreign Tax Credit was not finally rejected on the ground of delayed filing of Form No. 67, but the issue was restored to the Assessing Officer for verification and consequential allowance in accordance with law.

Final Conclusion: The Revenue's appeal succeeded only to the extent of remand, while the assessee's claim of Foreign Tax Credit remained open for verification and consequential relief.

Ratio Decidendi: Delay in filing Form No. 67, by itself, does not justify denial of Foreign Tax Credit where the claim is otherwise admissible and the supporting material requires verification.

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