https://www.taxtmi.com/caselaws?id=767660 ITAT Kolkata held that foreign tax credit under section 90 read with the applicable DTAA cannot be denied merely because Form No. 67 was filed after the return due date under section 139(1). Treating Rule 128(9) as procedural and directory rather than mandatory, the Tribunal followed coordinate bench decisions and the Madras High Court to hold that delay in filing Form No. 67 does not extinguish the substantive entitlement to credit where the treaty is more beneficial. The assessee was therefore entitled to the foreign tax credit for taxes paid in the USA. en-us Thu, 20 Mar 2025 00:00:00 +0530 Sat, 22 Mar 2025 08:34:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767660 ITAT Kolkata held that foreign tax credit under section 90 read with the applicable DTAA cannot be denied merely because Form No. 67 was filed after the return due date under section 139(1). Treating Rule 128(9) as procedural and directory rather than mandatory, the Tribunal followed coordinate bench decisions and the Madras High Court to hold that delay in filing Form No. 67 does not extinguish the substantive entitlement to credit where the treaty is more beneficial. The assessee was therefore entitled to the foreign tax credit for taxes paid in the USA. Case-Laws Income Tax Thu, 20 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767660