The Delhi High Court held interest on funds linked to project setup and earmarked for machinery purchase cannot be taxed separately. Bench of Justices V Kameswar Rao and Vinod Kumar ruled such income must be capitalized reducing overall project cost
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.
