Tribunal held that rule 128(9) of Income-tax Rules does not provide for disallowance of Foreign Tax Credit (FTC) in case of delay in filing Form 67; filing of Form 67 is not mandatory but a directory requirement and DTAA overrides provisions of Act and rules cannot be contrary to Act. Appeal of the assessee is allowed. (AY. 2020-21)
CES Ltd. v. DCIT (2024) 206 ITD 504 (Hyd)(Trib.)
S. 90 : Double taxation relief-Foreign tax credit (FTC) cannot be disallowed for delay in filing Form 67 as filing of Form 67 is a directory requirement-DTAA-India-USA [R. 128(9), Art.25]
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