https://www.taxtmi.com/caselaws?id=768666 Foreign tax credit under the India-Nepal DTAA cannot be denied merely because Form No. 67 was filed late, where the assessee had paid tax in Nepal and the treaty relief was otherwise established. The ITAT Kolkata held that the DTAA, being more beneficial, prevails over procedural requirements in the Income-tax Rules, and that delayed filing of Form No. 67 does not by itself extinguish the substantive entitlement to credit for foreign tax paid. On that basis, the treaty-based foreign tax credit was allowed. en-us Mon, 11 Nov 2024 00:00:00 +0530 Fri, 11 Apr 2025 08:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768666 Foreign tax credit under the India-Nepal DTAA cannot be denied merely because Form No. 67 was filed late, where the assessee had paid tax in Nepal and the treaty relief was otherwise established. The ITAT Kolkata held that the DTAA, being more beneficial, prevails over procedural requirements in the Income-tax Rules, and that delayed filing of Form No. 67 does not by itself extinguish the substantive entitlement to credit for foreign tax paid. On that basis, the treaty-based foreign tax credit was allowed. Case-Laws Income Tax Mon, 11 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768666