Rule 128(9) is Directory, Not Mandatory: No FTC Disallowance for Delayed Form 67 Filing

Bhaskar Dutta Vs DCIT (ITAT Delhi) In this appeal, the assessee, a non-resident individual, challenged the order of the Commissioner of Income Tax (Appeals)-42, New Delhi, pertaining to the 2020-21 assessment year. The primary issue is the rejection of the assessee’s claim for foreign tax credit (FTC) amounting to ₹25,43,643 due to the delayed filing of Form 67. The Centralized Processing Centre (CPC) rejected the FTC claim since Form 67 was not filed before the due date of the income tax return. Despite filing a revised return and submitting Form 67 later, the rectification request un...