Foreign Tax Credit claim survives delayed Form 67 filing where Rule 128(9) is treated as directory, subject to verification.

Foreign Tax Credit under section 90 cannot be denied merely because Form No. 67 was furnished after filing the return of income. Rule 128(9) was treated as directory for the relevant assessment years, so the procedural delay in filing the form did not defeat the substantive entitlement to credit. The credit remained subject to verification of Form No. 67, but delayed compliance alone was not sufficient to reject the claim.

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Issues: Whether Foreign Tax Credit could be denied only because Form No. 67 was not furnished along with the return of income, and whether Rule 128(9) is mandatory or directory for the purpose of claiming such credit for the relevant assessment years.

Analysis: The appeals involved an identical controversy for two assessment years concerning denial of Foreign Tax Credit under section 90 on the ground that Form No. 67 was filed belatedly. The earlier decision relied upon by the Tribunal had held that Rule 128 operates to implement the statutory scheme and that the requirement of furnishing Form No. 67 is directory in nature. On that basis, the delay in filing the form could not by itself defeat the substantive claim, subject to verification of the form.

Conclusion: The denial of Foreign Tax Credit was not sustained merely for delayed filing of Form No. 67, and the assessee was held entitled to the credit after verification of Form No. 67.

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