https://www.taxtmi.com/caselaws?id=760048 ITAT Hyderabad allowed the assessee's appeal for foreign tax credit despite belated filing of Form 67. The appellant filed Form 67 after the due date for income tax return filing under section 139(1) but before the AO passed the assessment order under section 143(1). The Tribunal held that since Form 67 was filed before the assessment order, the AO should have granted credit for taxes paid outside India when global income was taxed in India. The AO was directed to verify Form 67 and allow foreign tax credit, following precedent in similar cases. en-us Mon, 07 Oct 2024 00:00:00 +0530 Mon, 14 Oct 2024 20:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760048 ITAT Hyderabad allowed the assessee's appeal for foreign tax credit despite belated filing of Form 67. The appellant filed Form 67 after the due date for income tax return filing under section 139(1) but before the AO passed the assessment order under section 143(1). The Tribunal held that since Form 67 was filed before the assessment order, the AO should have granted credit for taxes paid outside India when global income was taxed in India. The AO was directed to verify Form 67 and allow foreign tax credit, following precedent in similar cases. Case-Laws Income Tax Mon, 07 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760048