Late filing of Form 67 couldn’t override rights under DTAA

BGA Electrical & Services Private Limited Vs DCIT (ITAT Kolkata)

Conclusion: Despite late filing of Form 67, assessee deserved the credit for taxes paid in Nepal since the provisions of DTAA (in this case DTAA with Nepal) had an overriding effect over other provisions of the Act.

Held: Assessee-company had filed an income tax return for Assessment Year 2021-22, claiming a Foreign Tax Credit (FTC) of Rs. 75,000 under Section 90. The FTC claim was based on taxes paid in Nepal on foreign business income of Rs. 5,00,000 earned from Annapurna

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