Denial of foreign tax credit merely for delay in filing Form No. 67 is unjustifiable

Rohan Prakash Shah Vs ADIT (ITAT Mumbai)

ITAT Mumbai held that mere delay in filing of Form No. 67 cannot preclude the assessee from claiming the benefit of foreign tax credit in respect of tax paid outside India.

Facts-

The assessee is an individual. For the year under consideration, the assessee filed his ROI belatedly on 31/10/2020, declaring a total income of Rs.64,42,150. The assessee in his ROI claimed foreign tax credit of Rs.14,86,291 and in this regard also filed Form no.67 on the same date. ROI filed by the assessee was processed vide intimation dated 17/03/2021, issued u/s. 143(1) of the Act whereby foreign tax credit of Rs.14,86,291, claimed by the assessee u/s. 90 / 90A of the Act was denied.

CIT(A), vide impugned order, dismissed the appeal filed by the assessee. Being aggrieved, the assessee is in appeal before us.

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