Foreign Tax Credit cannot be denied due to procedural lapses

In a case concerning denial of Foreign Tax Credit (FTC), the Tribunal ruled that non-filing of Form 67 within the prescribed timeline does not extinguish the taxpayer’s substantive right to credit under Section 90. 

The requirement was held to be procedural, and denial of FTC without proper verification or opportunity was found unsustainable. The matter was restored for verification, reinforcing that procedural non-compliance cannot override treaty entitlements.