https://www.taxtmi.com/caselaws?id=449008 The ITAT PUNE ruled that belated filing of Foreign Tax Credit (FTC) claim Form No. 67 with supporting certificates after the prescribed time limit under section 139(1) is allowable. The tribunal held that while filing the form and certificates is mandatory for substance, the time limit is directory rather than mandatory since Rule 128(9) prescribes no consequences for delayed compliance. The court emphasized that DTAA provisions do not override procedural requirements of the Income Tax Act, but belated compliance before final assessment processing is sufficient. The primary purpose is verifying genuineness of FTC claims, which belated filing can still achieve. Assessee's appeal was allowed. en-us Thu, 01 Feb 2024 00:00:00 +0530 Sat, 03 Feb 2024 08:26:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449008 The ITAT PUNE ruled that belated filing of Foreign Tax Credit (FTC) claim Form No. 67 with supporting certificates after the prescribed time limit under section 139(1) is allowable. The tribunal held that while filing the form and certificates is mandatory for substance, the time limit is directory rather than mandatory since Rule 128(9) prescribes no consequences for delayed compliance. The court emphasized that DTAA provisions do not override procedural requirements of the Income Tax Act, but belated compliance before final assessment processing is sufficient. The primary purpose is verifying genuineness of FTC claims, which belated filing can still achieve. Assessee's appeal was allowed. Case-Laws Income Tax Thu, 01 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449008