ITAT Chennai Rules Form 67 Timeline Directory, Grants FTC Despite Delay

Lakshmi Sundararajan Vs DCIT (ITAT Chennai) In Lakshmi Sundararajan v. DCIT,  Chennai   ITAT has ruled in favour of Assessee by allowing Foreign Tax Credit (FTC) despite a delay in filing Form 67. Assessee had claimed FTC of ₹3,82,049 u/s 90/91, but AO denied it as Form 67 was filed on 21.09.2018-after the due date u/ 139(1) (31.08.2018).  CIT(A) upheld the disallowance solely on the ground of late filing.  Assessee’s appeal to ITAT was filed with a delay of 463 days, supported by an affidavit explaining the reasons. Tribunal found sufficient cause & condoned the delay. On merits,...