Foreign Tax Credit cannot be denied solely for belated filing of Form 67

Ashish Sood Vs DCIT (ITAT Chandigarh) In the case of Ashish Sood Vs DCIT, the ITAT Chandigarh addressed whether a taxpayer is entitled to Foreign Tax Credit (FTC) despite submitting Form 67 after the due date but before the completion of the assessment. Ashish Sood had filed his tax return on September 21, 2020, for the assessment year 2020-21 but delayed filing Form 67, necessary for claiming FTC, until October 18, 2021. The Assessing Officer (AO) and the Commissioner of Income Tax (Appeals) [CIT(A)] denied the credit on the grounds that the form was not filed on time, in line with Rule 128(9...