Statement in Form-67 shall be furnished on or before Income Tax Return Due Date

Muralikrishna Vaddi Vs ACIT/DCIT (ITAT Visakhapatnam) Businesses and individuals claiming foreign tax credits must be vigilant in fulfilling all filing obligations within the prescribed timelines. The ruling emphasizes that technical mistakes or oversights may not be considered reasonable causes, and adherence to procedural norms is crucial to avoid adverse consequences. The decision underlines the significance of a proactive approach in tax compliance, urging taxpayers to stay informed about relevant rules and deadlines. As the appeal is dismissed, this case sets a precedent for strict adhere...