Court allows deduction under section 80C for life insurance premiums in favor of assessee.

The High Court of Punjab and Haryana ruled in favor of the assessee, allowing deduction under section 80C of the Income-tax Act for life insurance premiums paid. The decision was based on a previous court ruling, and the reference was disposed of with no order as to costs.

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The High Court of Punjab and Haryana ruled in favor of the assessee, allowing deduction under section 80C of the Income-tax Act for life insurance premiums paid. The decision was based on a previous court ruling and the reference was disposed of with no order as to costs. (Case citation: 1991 (4) TMI 103 - PUNJAB AND HARYANA High Court)

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