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of <h1>ITAT allows deduction under section 80C for post-tax savings</h1> <h3>Income-Tax Officer. Versus Sunil Krishna Ganguly.</h3> Income-Tax Officer. Versus Sunil Krishna Ganguly. - ITD 027, 137, TTJ 032, 016, The Appellate Tribunal ITAT CALCUTTA-A upheld the AAC's decision to allow the assessee's claim of deduction u/s 80C for purchasing National Savings Certificates worth Rs. 12,000, even if the source of investment was income not chargeable to tax during the year. The Tribunal stated that the deduction is available if payments are made from post-tax accumulated savings of earlier years. The revenue's appeal was dismissed.
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