Form 67 Deemed Directory, Not Mandatory: ITAT Rules FTC Claim Should Not Be Denied for Late Submission [Read Order]

The tribunal emphasized that Form 67 is directory rule, not mandatory under Rule 128 of the Income Tax Rules
By Kavi Priya - On September 25, 2024 1:20 pm - 2 mins read
ITAT Bangalore - ITAT - Income Tax Appellate Authority - Form 67 - Deemed Directory - FTC - Rules FTC - Rule 128 of the Income Tax Rules - late filing of Form 67 - Foreign Tax Credit - TAXSCAN

The Bangalore Bench of Income Tax Appellate Authority ( ITAT ) ruled that Foreign Tax Credit should not be denied just because of late filing of Form 67. The tribunal emphasized that Form 67 is directory rule, not mandatory under Rule 128 of the Income Tax Rules, 1962. Basavalinga Sadasivaiah Ajaikumar, the assessee filed his…

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