https://www.taxtmi.com/caselaws?id=457300 The ITAT Kolkata held that filing Form 67 under Income Tax Rules, 1962 is directory, not mandatory, and Foreign Tax Credit cannot be denied solely for late filing as it constitutes mere procedural formality. Despite minor delay in furnishing Form 67, the assessee was entitled to claimed Foreign Tax Credit for the relevant assessment years. The Tribunal consistently maintained that late filing of Form 67 should not result in denial of relief under section 90. Decision favored the assessee. en-us Wed, 12 Jun 2024 00:00:00 +0530 Sun, 15 Sep 2024 01:19:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457300 The ITAT Kolkata held that filing Form 67 under Income Tax Rules, 1962 is directory, not mandatory, and Foreign Tax Credit cannot be denied solely for late filing as it constitutes mere procedural formality. Despite minor delay in furnishing Form 67, the assessee was entitled to claimed Foreign Tax Credit for the relevant assessment years. The Tribunal consistently maintained that late filing of Form 67 should not result in denial of relief under section 90. Decision favored the assessee. Case-Laws Income Tax Wed, 12 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457300