Foreign Tax Credit (FTC) u/s 90 r.w. Article 25 India US Treaty ...

Tax Tribunal Allows Late Foreign Tax Credit Claim Due to Medical Delay; Prioritizes DTAA Over Income Tax Act for Benefits.

May 17, 2024

Case Laws Income Tax AT

Foreign Tax Credit (FTC) u/s 90 r.w. Article 25 India US Treaty (DTAA) - Claim denied as Assessee could not file Form 67 online along with return - The Tribunal accepted the appellant's plea of a reasonable cause for the delay, as evidenced by medical documentation, and condoned the delay, allowing the appeal to proceed. - The Tribunal agreed with the appellant's contention, emphasizing that procedural law should not be construed as mandatory when it obstructs justice. It noted that the DTAA provisions override those of the Income Tax Act if they are more beneficial to the taxpayer.

View Source

← Previous Next →

Foreign Tax Credit (FTC) u/s 90 r.w. Article 25 India US Treaty ...

Tax Tribunal Allows Late Foreign Tax Credit Claim Due to Medical Delay; Prioritizes DTAA Over Income Tax Act for Benefits.

May 17, 2024

Case Laws Income Tax AT

You may also like:

Assessee's claim for foreign tax credit u/s 90 allowed despite delay in filing Form No. 67 after due date of filing return u/s 139(1). Delay in filing Form 67 cannot...

Foreign Tax Credit u/s. 90 - Assessee did not file Form 67 at the time of filing of her return of income - Referring to established case law, the Tribunal affirmed that...

The High Court, following the judgment in G.M. Knitting Industries (P.) Ltd., held that filing a foreign tax credit claim u/r 128 is directory and not mandatory. The...

Foreign tax credit claim for doubly taxed foreign sourced salary income was denied due to belated filing of Form No. 67. The Tribunal allowed the assessee's claim,...

The ITAT Delhi held that denial of Foreign Tax Credit (FTC) claim due to late filing of Form 67 after the due date of filing Income Tax Return (ITR) was not justified....

The assessee, a salaried employee working for Tessolve Semiconductor Pvt. Ltd. and Tessolve Inc., earned income from salary, house property, capital gains, dividend, and...

The assessee delayed filing the TDS statement, leading to late fees u/s 234E. The Assessing Officer issued an order u/s 200A regarding the late filing. The assessee...

Relief u/s. 90 - Foreign Tax Credit (FTC) - In the instant case, the delay in filing of the FTC certificate in Form-67 was explained to be due to non receipt of the tax...

The assessee claimed deduction for interest and late fees paid on account of delay in filing GST returns. The authorities disallowed the claim, invoking Explanation 1 to...

Section 90 of the Income Tax Act allows relief from double taxation by granting foreign tax credits (FTCs) on foreign income taxed in both India and the other country....

Deduction u/s 80IA was allowed despite delay in filing Form 10CCB due to technical glitches on the Income Tax portal. The form was filed 1 hour 22 minutes after the due...

Denial of foreign tax credit u/s 90/90A due to delay in filing Form no.67 - Mere delay in filing Form No. 67 as per the provisions of Rule 128(9), as they stood during...

Denial of foreign tax credit u/s 90/90A due to delay in filing Form no.67 - mere delay in filing Form No. 67 as per the provisions of Rule 128(9), as they stood during...

Entitlement to foreign tax credit - The Tribunal concludes that the filing of Form 67 is a procedural requirement and should be construed as directory rather than...

ITAT affirmed CIT(A)'s directive to grant TDS credit per Form 26AS despite taxpayer's initial failure to claim full credit in tax return due to software technical issues....

Quick Updates: