https://www.taxtmi.com/caselaws?id=64047 The tribunal ruled against the assessee's claim for a deduction under section 80C for reinvestment of matured National Savings Certificates, emphasizing that the deduction should only be allowed if the investment is made from the income of the previous year relevant to the assessment year. The tribunal highlighted that allowing deductions without considering the source of income for the investment would defeat the legislative objective of encouraging savings and reducing tax burden. The tribunal dismissed the appeal, upholding the revenue's position in the case. en-us Thu, 20 Aug 1987 00:00:00 +0530 Thu, 03 Feb 2011 14:16:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64047 The tribunal ruled against the assessee's claim for a deduction under section 80C for reinvestment of matured National Savings Certificates, emphasizing that the deduction should only be allowed if the investment is made from the income of the previous year relevant to the assessment year. The tribunal highlighted that allowing deductions without considering the source of income for the investment would defeat the legislative objective of encouraging savings and reducing tax burden. The tribunal dismissed the appeal, upholding the revenue's position in the case. Case-Laws Income Tax Thu, 20 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64047