Delay in Filing Form 67 Doesn’t Bar Foreign Tax Credit: ITAT Ruling

Suresh Kumar Doodi Vs ACIT (ITAT Jaipur) The Income Tax Appellate Tribunal (ITAT) in Jaipur recently delivered a crucial verdict in the case of Suresh Kumar Doodi vs. ACIT. The judgment reiterates that the delay in filing Form 67 does not result in disallowance of the Foreign Tax Credit (FTC) under Rule 128(9) of the Income Tax Rules. This article provides an in-depth analysis of the judgment and its implications. Background of the Case: Suresh Kumar Doodi, a salaried individual, had his Foreign Tax Credit claim of Rs. 15,53,686 disallowed by the National Faceless Appeal Centre (NFAC) and the...