Foreign Tax Credit Cannot Be Denied Due to Late Form 67: ITAT Hyderabad

Ashish Agrawal Vs ITO (ITAT Hyderabad) The Income Tax Appellate Tribunal (ITAT), Hyderabad, allowed the assessee’s appeal against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), for Assessment Year 2019-20. The appeal involved three issues: refusal to condone a delay of 710 days in filing the appeal against an intimation under Section 143(1) of the Income-tax Act, delay of 604 days in filing a rectification application, and denial of Foreign Tax Credit (FTC) of ₹1,94,384. The assessee, an Indian national employed with Emerson Electric Company ...