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Foreign Tax Credit

ITAT Allows Canon India Full Foreign Tax Credit for Taxes Paid in Japan Despite Nil Indian Tax Liability [Read Order]

Kavi Priya

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that Canon India Pvt. Ltd. is entitled to full foreign tax credit for taxes paid...

Delay In Filing of Form 67 Led to FTC Denial: Madras HC Allows Appeal Against Intimation with Delay...

FTC Claim Not Denied Despite Delay as Filing of Form 67 Held Directory, Not Mandatory: ITAT [Read...

Consider GST Registration and Import Export Certificate for Proprietor Claim: ITAT Remands FTC...

Form 67 Filed in Time Under Amended R. 128(9): ITAT Allows ₹49.65 Lakh FTC [Read Order]

Delay in filing Form 67 Shall not be Considered as Ground for Denying Foreign Tax Credit claim: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Pune Bench, has ruled that delay in filing Form 67 cannot be taken as a valid ground for denying a taxpayer’s Foreign Tax Credit ( FTC ) claim. It stated...

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

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the requirement to file Form 67 for claiming Foreign Tax Credit (FTC) is only directory in nature and not mandatory. Preeti...

ITAT Absolves Shah Rukh Khan of Tax Reassessment on ₹83 Crore Income Connected to Red Chillies’ Ra.One [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently quashed reassessment proceedings initiated against Bollywood superstar Shah Rukh Khan for the Assessment Year 2012-13, absolving...

Income Tax Annual Digest 2024: ITAT Cases [Part 23]

This annual round-up analytically summarizes all the Income Tax related Orders of the Income Tax Appellate Tribunal (ITAT) Benches of India reported at Taxscan.in during 2024. Capital Gains...

Absolute Stalemate! How the Revenue will Tax about Rs.4.8 Crore from the Winnings of Chess World-Champion D. Gukesh

Prodigious chess grandmaster Gukesh Dommaraju beat reigning world champion Ding Liren in a best-of-14 game final at the 2024 iteration of the World Chess Championship, which ended in a triumphant...

gukesh tax - gukesh prize money - Gukesh Dommaraju - chess winner tax in india - taxscan

Procedural Delay in Filing Form 67 not a ground to deny Foreign Tax Credit: ITAT [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal held that procedural delay in filing Form 67 cannot be a ground to deny Foreign Tax Credit (FTC). Narendra Vishnubhai...

Late Filing of Form 67 Cannot Override Rights under DTAA: ITAT Allows FTC Claim [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that procedural delays, such as late Form 67 filing, cannot invalidate a taxpayer’s right to claim a Foreign Tax Credit ( FTC )...