https://www.taxtmi.com/caselaws?id=470073 Delayed filing of Form No. 67 does not, by itself, disentitle an assessee from claiming Foreign Tax Credit under Section 90 of the Income-tax Act, 1961. Rule 128(9), as substituted with effect from 1 April 2022, prescribes the time and manner for furnishing the form but does not expressly mandate denial of credit solely for late filing. The amendment and its Explanatory Memorandum clarify that claims furnished during financial year 2022-23 may be allowed even when filed belatedly. Article 24 of the India-UK Double Taxation Avoidance Agreement also permits credit for taxes paid in the other country. The clarification is stated to operate retrospectively, including where Form No. 67 is filed before rectification. en-us Mon, 09 Jun 2025 00:00:00 +0530 Tue, 14 Jul 2026 19:02:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470073 Delayed filing of Form No. 67 does not, by itself, disentitle an assessee from claiming Foreign Tax Credit under Section 90 of the Income-tax Act, 1961. Rule 128(9), as substituted with effect from 1 April 2022, prescribes the time and manner for furnishing the form but does not expressly mandate denial of credit solely for late filing. The amendment and its Explanatory Memorandum clarify that claims furnished during financial year 2022-23 may be allowed even when filed belatedly. Article 24 of the India-UK Double Taxation Avoidance Agreement also permits credit for taxes paid in the other country. The clarification is stated to operate retrospectively, including where Form No. 67 is filed before rectification. Case-Laws Income Tax Mon, 09 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470073