1994 (8) TMI 26

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..... come-tax Act, 1961, and seeks reference of the following question to this court : " 1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was legally correct in holding that the assessee was not entitled to deduction under section 80C ? 2. Whether, on the facts and in the circumstances of the case, the request made by the assessee to the Income-tax De .....

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..... tent of Rs. 20,200 each out of the moneys so seized. This was not done and the contention of the assessee is that although the National Savings Certificates have not actually been purchased, the assessees' money should be deemed to have been invested in National Savings Certificates and the requisite relief under section 80C should be granted. This claim has been negatived by the authorities below .....

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..... section 80C, for granting deduction, is admissible only in case same is paid in the previous year in specified investment. In view of the said finding, it is clear that the sums are not actually paid for purchasing National Savings Certificates and hence the finding recorded by the Tribunal refusing the claim of deduction has rightly been done. As such no question of law arises out of the Tribunal .....

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