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Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
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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