https://www.taxtmi.com/caselaws?id=234553 The Tribunal allowed the assessee's appeal, determining that LIC premiums paid out of loan funds are eligible for deduction under section 80C, as the current provisions do not mandate payments to be made out of income chargeable to tax. The Tribunal set aside the CIT(A)'s decision and instructed the AO to permit the deduction claimed by the assessee for the assessment year 2006-07. en-us Fri, 05 Apr 2013 00:00:00 +0530 Mon, 17 Jun 2013 16:52:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234553 The Tribunal allowed the assessee's appeal, determining that LIC premiums paid out of loan funds are eligible for deduction under section 80C, as the current provisions do not mandate payments to be made out of income chargeable to tax. The Tribunal set aside the CIT(A)'s decision and instructed the AO to permit the deduction claimed by the assessee for the assessment year 2006-07. Case-Laws Income Tax Fri, 05 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234553