https://www.taxtmi.com/caselaws?id=437898 The Tribunal ruled in favor of the assessee, allowing the claim of Foreign Tax Credit (FTC) that was initially disallowed by the CIT(A). The Tribunal held that the denial of FTC based on the non-filing of Form No.67 within the prescribed time limit was unjustified, emphasizing that such procedural requirements are not mandatory and do not negate the substantive right of claiming FTC. Therefore, the assessee's appeal was successful, and the benefit of FTC was granted as claimed under sections 90/91 of the Income-tax Act, 1961 for the assessment year 2020-2021. en-us Mon, 15 May 2023 00:00:00 +0530 Tue, 16 May 2023 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437898 The Tribunal ruled in favor of the assessee, allowing the claim of Foreign Tax Credit (FTC) that was initially disallowed by the CIT(A). The Tribunal held that the denial of FTC based on the non-filing of Form No.67 within the prescribed time limit was unjustified, emphasizing that such procedural requirements are not mandatory and do not negate the substantive right of claiming FTC. Therefore, the assessee's appeal was successful, and the benefit of FTC was granted as claimed under sections 90/91 of the Income-tax Act, 1961 for the assessment year 2020-2021. Case-Laws Income Tax Mon, 15 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437898