TMI Blog1998 (12) TMI 100X X X X Extracts X X X X X X X X Extracts X X X X ..... out of total claim of Rs. 29,300. We have heard the assessee's counsel as well as the learned Departmental Representative. The assessee's counsel has submitted that the requirement of provisions of s. 80C is that the contribution should be out of taxable income and it nowhere states that the taxable income should be of the same year in which the contribution has been made. He has further submitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this account to the tune of Rs. 24,000 which were the own account of the assessee's monthly salary and another credit of Rs. 35,000 was as a result of transfer from the assessee's deposit account with M/s Jai Prakash Associates (P) Ltd.—copy placed at p. 3 of the assessee's compilation; in which there was balance of Rs. 45,000 and current credit on account of interest to the tune of Rs. 2,508. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Prakash Gaur, Another co-employee of the assessee [ITA No. 563(A)/1989, decided on 24th Oct., 1991] wherein, in similar facts and circumstances, the assessee's claim under s. 80C has been allowed. 3. We have considered the rival submissions, facts and circumstances of the case as well as the Tribunal's decision relied upon by the assessee and after careful consideration of the same are of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se or in different bank accounts and makes contribution from one in which he has mixed the current year's receipts—mixes the current year's receipts with other, it cannot be said that the contribution having not been made from the account, pocket, place, box, or bank account in which the current year's receipts have been mixed, the contribution from one in which receipts were not mixed, is not out ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n that there being credit to the tune of Rs. 24,000 in the personal account and to the tune of Rs. 2,508 in the deposit account wherefrom a sum of Rs. 35,000 has been transferred to personal account, the total credit on account of current year's income by the time the contribution was made was at Rs. 26,508, as against the contribution of Rs. 24,392.50 which was quite sufficient to cover the contr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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