CPC denies FTC for late filing of Form 67: ITAT Rules Form Filing Directory not Mandatory

The ITAT has ruled that Form 67 filing is directory, not mandatory, and allowed Foreign Tax Credit (FTC) despite late filing. The tribunal emphasized that procedural requirements should not override substantive rights. This decision provides relief to taxpayers and ensures fairness in FTC claims. The ruling clarifies the requirements for FTC claims. This is regarding tax credits.