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of <h1>ITAT allows deduction under section 80C for post-tax savings</h1> 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 ... Insurance Premia, Life Insurance, Provident Fund 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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