https://www.taxtmi.com/caselaws?id=459424 ITAT Kolkata ruled in favor of the assessee regarding disallowance of foreign tax credit under section 90 read with Article 23 of India-Indonesia DTAA due to late filing of Form-67. The tribunal held that filing Form-67 is directive in nature, not mandatory, and delay in filing should not result in denial of foreign tax credit claim. Following precedents from ITAT Kolkata and Madras HC, the tribunal determined that when all substantive conditions are fulfilled, the assessee deserves foreign tax credit despite procedural delay. Appeal allowed. en-us Tue, 06 Feb 2024 00:00:00 +0530 Wed, 11 Dec 2024 18:53:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459424 ITAT Kolkata ruled in favor of the assessee regarding disallowance of foreign tax credit under section 90 read with Article 23 of India-Indonesia DTAA due to late filing of Form-67. The tribunal held that filing Form-67 is directive in nature, not mandatory, and delay in filing should not result in denial of foreign tax credit claim. Following precedents from ITAT Kolkata and Madras HC, the tribunal determined that when all substantive conditions are fulfilled, the assessee deserves foreign tax credit despite procedural delay. Appeal allowed. Case-Laws Income Tax Tue, 06 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459424