1977 (11) TMI 69 - AT - Income Tax

Summary

The ITAT Amritsar allowed the appeal of the individual assessee for the assessment year 1974-75 regarding deduction under section 80C of the IT Act. The tribunal held that the assessee is entitled to deduction for the premium amount actually paid by him, even though the policy belonged to the HUF in earlier years. The appeal was partly allowed.