https://www.taxtmi.com/caselaws?id=456656 The ITAT remanded the case concerning the denial of Foreign Tax Credit (FTC) to the assessee, an Indian resident with foreign income from Kazakhstan. The issue arose due to late filing of the tax return, though Form No. 67 was timely submitted. The Tribunal instructed the AO to verify if the required Certificate or Statement was also submitted on time. If confirmed, the FTC should be granted, as all other conditions were satisfied. The Tribunal highlighted the retrospective application of Rule 128(9) and underscored the necessity of fulfilling all procedural requirements for FTC eligibility. The assessee was given an opportunity for a hearing. en-us Fri, 13 Oct 2023 00:00:00 +0530 Wed, 07 Aug 2024 20:37:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456656 The ITAT remanded the case concerning the denial of Foreign Tax Credit (FTC) to the assessee, an Indian resident with foreign income from Kazakhstan. The issue arose due to late filing of the tax return, though Form No. 67 was timely submitted. The Tribunal instructed the AO to verify if the required Certificate or Statement was also submitted on time. If confirmed, the FTC should be granted, as all other conditions were satisfied. The Tribunal highlighted the retrospective application of Rule 128(9) and underscored the necessity of fulfilling all procedural requirements for FTC eligibility. The assessee was given an opportunity for a hearing. Case-Laws Income Tax Fri, 13 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456656