The Delhi High Court ruled Foreign Tax Credit cannot be denied solely for delayed Form 67 filing, directing reconsideration within two months. Real Time Data Services Private Limited challenged FTC denial for AY 2020-21 and subsequent years.
The Supreme Court delivered a split verdict on the Revenue’s appeal against a Bombay HC ruling in a high-stakes tax dispute involving foreign drilling companies. Conflicting views on Sections 144C and 153 of the Income Tax Act now push the matter to a larger bench.
