Late Form 67 filing doesn’t invalidate foreign tax credit claim

Vinodkumar Lakshmipathi Vs CIT(A) NFAC (ITAT Bangalore) The case of Vinodkumar Lakshmipathi vs CIT(A) NFAC pertains to the disallowance of foreign tax credit (FTC) for the assessment year 2018-19. This article delves into the grounds of appeal raised by the assessee and the subsequent legal proceedings. Vinodkumar Lakshmipathi contested the disallowance of FTC on two primary grounds: firstly, that the return of income for AY 2018-19 was filed within the extended due date as per Rule 128(1) of the IT Act, 1961; secondly, the mandatory requirement of filing Form 67 before the due date, which the...