Rs 1.79 lakh US tax credit under India-US DTAA denied over late Form 67 filing; ITAT Bangalore rules in man’s favour

An Indian taxpayer from Bangalore faced a setback when his foreign tax credit was denied due to late submission of Form 67. However, the ITAT clarified that such delays shouldn't negate the entitlement to foreign tax credits. This pivotal decision, which takes into consideration recent legal interpretations on procedural mistakes, will now be forwarded to the Assessing Officer to reassess the claim.