Foreign tax credit and late Form 67 filing: matter restored for verification before credit is allowed

Late furnishing of Form 67 was treated as a curable procedural defect and not, by itself, a complete bar to foreign tax credit. The appellate order was set aside because the Department did not dispute that substantive entitlement still required examination, and the matter was restored to the Assessing Officer for verification of Form 67 and related details before allowing the credit, if otherwise admissible.

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Issues: Whether the assessee was entitled to foreign tax credit despite late filing of Form 67, and whether the matter required restoration for fresh examination.

Analysis: The appeal concerned denial of foreign tax credit on the ground that Form 67 had been furnished belatedly. The claimed position was that such delay should not, by itself, defeat the credit where the substantive claim otherwise required examination. The Department did not controvert that proposition. In view of this, the appellate order was set aside and the matter was sent back for verification of Form 67 and related details before granting the credit, if otherwise admissible.

Conclusion: The assessee's claim for foreign tax credit was not finally rejected on merits, and the matter was restored to the Assessing Officer for fresh consideration.

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