Denial of Foreign Tax Credit merely due to delay in filing Form 67 not justifiable

Nanda Kishore Ravula Vs ADIT (International Tax) (ITAT Hyderabad) ITAT Hyderabad held that denial of credit for Foreign Tax Credit merely due to delay in filing of Form 67 not justified as Form 67, although belatedly, was filed before the AO passed order u/s 143(3) of the Act. Accordingly, appeal allowed. Facts- The assessee, an individual, filed his original return of income for the A.Y.2020-21 on 15.12.2020. Subsequently, the assessee filed revised return of income on 30.03.2021 and claimed Foreign Tax Credit (“FTC”) of Rs.21,57,343/-. The return of income filed by the assessee has been ...