Foreign Tax Credit cannot be denied for delayed Form 67 filing where entitlement is otherwise undisputed and rectification follows.

Foreign Tax Credit cannot be denied merely because Form 67 was filed late where the assessee's substantive entitlement to credit is otherwise undisputed. The delay was treated as a procedural lapse that did not extinguish the claim, and rectification of the intimation was directed so the credit could be granted.

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Issues: Whether Foreign Tax Credit could be denied merely because Form 67 was filed belatedly, and whether the assessee was entitled to rectification of the intimation.

Analysis: The assessee had paid taxes both in India and abroad, and the entitlement to credit for foreign taxes was not in dispute. The delay in filing Form 67 was treated as a procedural lapse that could not defeat the substantive claim for Foreign Tax Credit. On that basis, the Revenue was directed to grant the credit and carry out rectification.

Conclusion: The denial of Foreign Tax Credit on the ground of delayed filing of Form 67 was not sustained, and the assessee's claim was directed to be allowed.

Ratio Decidendi: A procedural delay in filing Form 67 cannot, by itself, extinguish an otherwise undisputed entitlement to Foreign Tax Credit.

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