Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
The assessee filed a belated Form No. 67 for claiming Foreign Tax Credit (FTC). The issue was whether the procedural requirement of filing Form No. 67 was directory or mandatory. The Tribunal held that since the provisions of the Double Taxation Avoidance Agreement (DTAA) override Section 90 of the Income Tax Act and are more beneficial to the assessee, and Rule 128(a) does not preclude claiming FTC in case of delay in filing Form No. 67 as FTC is a vested right, there was no justification for not allowing FTC. The Tribunal directed the Assessing Officer to allow FTC in accordance with the India-Thailand DTAA, as the assessee had filed Form No. 67 as evidence of foreign taxes paid. The assessee's appeal was allowed.
The assessee filed a belated Form No. 67 for claiming Foreign Tax Credit (FTC). The issue was whether the procedural requirement of filing Form No. 67 was directory or mandatory. The Tribunal held that since the provisions of the Double Taxation Avoidance Agreement (DTAA) override Section 90 of the Income Tax Act and are more beneficial to the assessee, and Rule 128(a) does not preclude claiming FTC in case of delay in filing Form No. 67 as FTC is a vested right, there was no justification for not allowing FTC. The Tribunal directed the Assessing Officer to allow FTC in accordance with the India-Thailand DTAA, as the assessee had filed Form No. 67 as evidence of foreign taxes paid. The assessee's appeal was allowed.
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