https://www.taxtmi.com/caselaws?id=312446 ITAT Jaipur allowed the assessee's appeal for foreign tax credit despite non-filing of Form No. 67 within the prescribed timeline. The tribunal held that Rule 128(9) is directory, not mandatory, as it doesn't prescribe denial of credit for non-compliance. The rule doesn't specify consequences for late filing, and the 2022 amendment extended the filing deadline beyond the return due date. Since Form No. 67 was filed before assessment completion and Rule 128 doesn't provide adverse consequences for procedural non-adherence, the AO was directed to allow the foreign tax credit. en-us Fri, 28 Jul 2023 00:00:00 +0530 Sat, 17 Feb 2024 20:36:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312446 ITAT Jaipur allowed the assessee's appeal for foreign tax credit despite non-filing of Form No. 67 within the prescribed timeline. The tribunal held that Rule 128(9) is directory, not mandatory, as it doesn't prescribe denial of credit for non-compliance. The rule doesn't specify consequences for late filing, and the 2022 amendment extended the filing deadline beyond the return due date. Since Form No. 67 was filed before assessment completion and Rule 128 doesn't provide adverse consequences for procedural non-adherence, the AO was directed to allow the foreign tax credit. Case-Laws Income Tax Fri, 28 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312446