https://www.taxtmi.com/caselaws?id=770166 ITAT Kolkata allowed the assessee's appeal regarding denial of Foreign Tax Credit for taxes paid in USA. The tribunal held that filing Form No. 67 is directory, not mandatory, and FTC cannot be denied solely due to delayed filing beyond the prescribed time limit under rule 128(9) of Income-tax Rules, 1962. Following precedents from Madras HC and other ITAT decisions, the tribunal directed the AO to grant FTC benefits for foreign taxes paid in accordance with law and India-USA DTAA. en-us Mon, 05 May 2025 00:00:00 +0530 Wed, 07 May 2025 09:18:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770166 ITAT Kolkata allowed the assessee's appeal regarding denial of Foreign Tax Credit for taxes paid in USA. The tribunal held that filing Form No. 67 is directory, not mandatory, and FTC cannot be denied solely due to delayed filing beyond the prescribed time limit under rule 128(9) of Income-tax Rules, 1962. Following precedents from Madras HC and other ITAT decisions, the tribunal directed the AO to grant FTC benefits for foreign taxes paid in accordance with law and India-USA DTAA. Case-Laws Income Tax Mon, 05 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770166