The Tribunal held that Rule 128(9) does not provide for ...

Tax credit allowed despite delayed filing of Form 67; DTAA overrides domestic provisions.

Case Laws Income Tax

November 4, 2024

The Tribunal held that Rule 128(9) does not provide for disallowance of Foreign Tax Credit (FTC) in case of delay in filing Form No. 67. Filing of Form No. 67 is a directory requirement, and the Double Taxation Avoidance Agreement (DTAA) overrides the provisions of the Act and Rules. The issue was not debatable, and there was only one possible view. In such circumstances, proceedings u/s 154 of the Act can be resorted to, even if it involves a long-drawn process of reasoning. The Assessing Officer was directed to give credit for foreign tax as per Form 67 filed by the assessee prior to filing the appeal before the Commissioner of Income Tax (Appeals), after due verification.

View Source

← Previous Next →

The Tribunal held that Rule 128(9) does not provide for ...

Tax credit allowed despite delayed filing of Form 67; DTAA overrides domestic provisions.

Case Laws Income Tax

November 4, 2024

You may also like:

Denial of Foreign Tax Credit (FTC) - (i) Rule 128(9) of the Rules does not provide for disallowance of FTC in case of delay in filing Form No. 67; (ii) filing for Form...

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...

Denial of claim of Foreign Tax Credit (FTC) - Delay in filing of ITR - Rule 128 is only a procedural provision and not a mandatory provision and cannot override the...

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

Eligibility of Foreign tax credit - delay in compliance of a procedural provision - delay in filing Form No.67 - Assessee has vested right to claim the FTC under the tax...

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...

Claim of foreign tax credit (FTC) u/s 90 - Rule 128 of the Rules cannot override the provisions of DTAA and impose an additional condition that credit will not be given...

Relief u/s 90 - foreign tax credit - disallowance of FTC in case of delay in filing Form No. 67 - the assessee is eligible for foreign tax credit, as she has filed form...

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...

Foreign tax credit u/s 90/90A - delay in filing Form no.67 - mere delay in filing Form No. 67 as per the provisions of Rule 128(9), as it stood during the year under...

Denial of foreign tax credit u/s 91 - 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 the year...

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...

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....

Quick Updates: