Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Denial of Foreign Tax Credit (FTC) - being Form 67 was not filed along with the ITR before the time limit u/s 139 (1) - The use of the word "shall" in the rule indicates the mandatory nature of this requirement. - The Tribunal referred to a precedent set by the Mumbai Bench of the ITAT in the case of Rohini Hattangadi vs. CIT (A), where it was held that the delay in filing Form 67 should not disentitle the assessee from claiming FTC. The decision emphasized that procedural law should not be construed as mandatory if it aids the claim of substantive right. - Furthermore, the Tribunal considered various decisions stating that provisions of Double Taxation Avoidance Agreements (DTAA) override the provisions of the Act if they are beneficial to the assessee.
Denial of Foreign Tax Credit (FTC) - being Form 67 was not filed along with the ITR before the time limit u/s 139 (1) - The use of the word "shall" in the rule indicates the mandatory nature of this requirement. - The Tribunal referred to a precedent set by the Mumbai Bench of the ITAT in the case of Rohini Hattangadi vs. CIT (A), where it was held that the delay in filing Form 67 should not disentitle the assessee from claiming FTC. The decision emphasized that procedural law should not be construed as mandatory if it aids the claim of substantive right. - Furthermore, the Tribunal considered various decisions stating that provisions of Double Taxation Avoidance Agreements (DTAA) override the provisions of the Act if they are beneficial to the assessee.
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