ITAT Kolkata Allows Foreign Tax Credit Despite Form 67 Delay

Anindya Sarkar Vs Assistant Director of Income Tax (ITAT Kolkata) Income Tax Appellate Tribunal (ITAT) Kolkata ruled in favor of Anindya Sarkar, an individual taxpayer, in his appeal against the Assistant Director of Income Tax, CPC, Bengaluru, regarding the denial of Foreign Tax Credit (FTC) for Assessment Year 2020-21. Sarkar, who worked for a Singapore-based company, had declared income earned in Singapore and paid taxes there, seeking relief under the Double Taxation Avoidance Agreement (DTAA) between India and Singapore. However, his FTC claim was denied because Form 67, a mandatory docum...