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Foreign Tax Credit Allowed Despite Nil Indian Tax Liability: ITAT

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By Mariya Paliwala
Foreign Tax Credit Allowed Despite Nil Indian Tax Liability: ITAT

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The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has allowed Canon India full credit of taxes paid in Japan, even though the company had nil tax liability in India for the relevant assessment years. The Tribunal also upheld Canon’s claim for interest on refund in the connected appeal. The bench of Challa Nagendra Prasad (Judicial…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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