https://www.taxtmi.com/caselaws?id=459368 ITAT Kolkata held that filing Form No. 67 under rule 128 is directory, not mandatory, and foreign tax credit cannot be denied solely due to delayed filing. Following precedents from Madras HC and ITAT Bangalore, the tribunal ruled that failure to file Form No. 67 within prescribed time limits under rule 128(9) does not preclude claiming foreign tax credit for taxes paid outside India. The assessee's claim was allowed, and AO was directed to provide foreign tax credit benefit in accordance with law and India-USA DTAA. en-us Wed, 24 Apr 2024 00:00:00 +0530 Tue, 10 Dec 2024 19:00:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459368 ITAT Kolkata held that filing Form No. 67 under rule 128 is directory, not mandatory, and foreign tax credit cannot be denied solely due to delayed filing. Following precedents from Madras HC and ITAT Bangalore, the tribunal ruled that failure to file Form No. 67 within prescribed time limits under rule 128(9) does not preclude claiming foreign tax credit for taxes paid outside India. The assessee's claim was allowed, and AO was directed to provide foreign tax credit benefit in accordance with law and India-USA DTAA. Case-Laws Income Tax Wed, 24 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459368