ITAT Bangalore allows foreign tax credit based on revised form 67 & rejects denial on mere technicality of late filing

Prakash Narayanan Vs DCIT (ITAT Bangalore) ITAT Bangalore allows foreign tax credit based on revised form 67 & rejects denial on mere technicality of late filing Assessee, a salaried individual, filed a revised return & a revised Form 67 claiming foreign tax credit (FTC) of ₹13,24,710 u/s90, instead of ₹8,50,562 claimed earlier. AO allowed relief only as per the original Form 67, citing delay in filing of the revised Form 67. CIT(A) upheld AO’s denial of additional FTC. Assessee approached the Tribunal challenging the denial of FTC based on revised Form 67.  Assessee argued ...