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2005 (2) TMI 80 - HC - Income TaxRelief under section 80C in respect of life insurance premium paid and National Savings Certificates purchased - "1. Whether Tribunal was right in holding that the assessee was not entitled to relief under section 80C, in respect of purchase of National Savings Certificates to the extent of Rs. 5,000 purchased by raising a loan? - 2. Whether Tribunal was right in holding that the assessee was entitled to relief under section 80C of the Act in respect of life insurance premium paid in the sum of Rs. 17,915 and National Savings Certificates purchased to the extent of Rs. 5,000?" - we respectfully agree we answer question No.1 referred to us in the negative, i.e., against the Revenue and in favour of the assessee. Question No.2 is answered in the affirmative, i.e., against the Revenue and in favour of the assessee.
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