Section 295(2)(ha) — the law in short
What the courts have decided on section 295(2)(ha), in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.
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Brinda Ramakrishna v ITO
ITATHelps taxpayerValidity unconfirmed
I filed Form 67 late and my foreign tax credit was disallowed. Does missing the deadline kill the claim?
No, on this decision. The Bangalore Tribunal held that Rule 128(9) does not provide for disallowance of foreign tax credit where Form 67 is filed late; filing Form 67 is directory, not mandatory; and the treaty overrides the Act, with the Rules unable to run contrary to the Act. The assessee had claimed credit of Rs 4,73,779 for Australian tax under section 90 read with Article 24 of the India-Australia treaty, filed Form 67 only on 18 April 2020, and had the credit refused. The Tribunal allowed the appeal, and also held the point could be taken in rectification proceedings under section 154.
Listed strongest first: Supreme Court, then High Court, then Tribunal, then CBDT. Nothing here has yet been read in full by a chartered accountant — open an entry to see where it came from.