https://www.taxtmi.com/caselaws?id=310965 The ITAT Jaipur held that foreign tax credit (FTC) cannot be denied merely for procedural non-compliance, specifically late filing of Form 67 after the return due date. The tribunal ruled that FTC is a vested right under Article 22(2) of the DTAA read with section 90, and procedural requirements in Rules cannot override substantive treaty rights. Since neither section 90 nor the DTAA prescribes disallowance for procedural lapses, and Form 67 was available to the AO when assessment was framed, the assessee was entitled to FTC. Appeal decided in favor of assessee. en-us Wed, 27 Sep 2023 00:00:00 +0530 Tue, 28 Nov 2023 17:52:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310965 The ITAT Jaipur held that foreign tax credit (FTC) cannot be denied merely for procedural non-compliance, specifically late filing of Form 67 after the return due date. The tribunal ruled that FTC is a vested right under Article 22(2) of the DTAA read with section 90, and procedural requirements in Rules cannot override substantive treaty rights. Since neither section 90 nor the DTAA prescribes disallowance for procedural lapses, and Form 67 was available to the AO when assessment was framed, the assessee was entitled to FTC. Appeal decided in favor of assessee. Case-Laws Income Tax Wed, 27 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310965