Foreign Tax Credit Claim Survives Technical Deadline Miss: Procedural Delay Cannot Deny Substantive Tax Benefit Under Rule 128(9)

ITAT ruled on Foreign Tax Credit (FTC) claim where Form No. 67 was filed beyond statutory deadline. The tribunal held that delayed filing does not automatically disqualify FTC claim. Applying judicial precedents from Madras HC and ITAT Kolkata, the tribunal determined that procedural delays in submitting Form No. 67 under rule 128(9) of Income-tax Rules do not preclude taxpayer from claiming foreign tax credit. The appellate tribunal directed the Assessing Officer to grant FTC benefit for taxes paid in foreign jurisdiction consistent with Double Taxation Avoidance Agreement between India and USA. Assessee's appeal was consequently allowed, establishing that technical non-compliance does not nullify substantive tax credit entitlement. .....

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