https://www.taxtmi.com/caselaws?id=764630 ITAT Bangalore allowed assessee's appeal regarding foreign tax credit disallowance. Revenue authorities rejected FTC claim due to late filing of Form 67 beyond due date. ITAT held that Form 67 filing is directory, not mandatory, when assessee reported foreign income in timely return and paid tax abroad. Rule 128 doesn't bar FTC claims for delayed Form 67 filing. ITAT relied on precedents establishing Form 67 as directory requirement. Tribunal directed AO to grant FTC after verification, ruling filing requirement non-mandatory when facts undisputed and income properly reported. en-us Mon, 06 Jan 2025 00:00:00 +0530 Wed, 15 Jan 2025 07:36:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764630 ITAT Bangalore allowed assessee's appeal regarding foreign tax credit disallowance. Revenue authorities rejected FTC claim due to late filing of Form 67 beyond due date. ITAT held that Form 67 filing is directory, not mandatory, when assessee reported foreign income in timely return and paid tax abroad. Rule 128 doesn't bar FTC claims for delayed Form 67 filing. ITAT relied on precedents establishing Form 67 as directory requirement. Tribunal directed AO to grant FTC after verification, ruling filing requirement non-mandatory when facts undisputed and income properly reported. Case-Laws Income Tax Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764630