Foreign tax credit and delayed Form 67 filing: substantive claim accepted, subject to verification and recomputation

Foreign tax credit under sections 90 and 90A was considered in the context of delayed filing of Form 67 under section 139(1). The claim had been rejected solely because Form 67 was not uploaded by the prescribed due date, but the earlier tribunal view on the same issue was followed and that position was not rebutted. The matter therefore required acceptance of the credit in principle, subject to verification of the relevant facts and fresh computation in accordance with law.

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Issues: Whether the assessee was entitled to foreign tax credit under sections 90 and 90A when Form 67 was not filed by the due date under section 139(1), and whether the disallowance made in processing under section 143(1) could be sustained.

Analysis: The foreign tax credit claim was rejected by the lower authorities solely on the ground that Form 67 had not been uploaded within the prescribed due date. The assessee relied on a prior tribunal order on the same issue for an earlier assessment year, and that position was not rebutted by the Revenue. Following judicial consistency, the matter required acceptance of the claim in principle, with a direction for verification of the necessary facts and fresh computation in accordance with law.

Conclusion: The assessee succeeded on the substantive claim for foreign tax credit, and the denial based only on delayed Form 67 compliance was not sustained.

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