https://www.taxtmi.com/caselaws?id=10629 The High Court of ALLAHABAD ruled in favor of the assessee on both issues related to the interpretation of section 80C of the Income-tax Act, 1961. The court held that the assessee was entitled to relief under section 80C for the entire amount of the life insurance premium paid. However, the National Savings Certificates purchased with a loan not repaid during the accounting period did not qualify for the tax benefit. The judgment favored the assessee, concluding that investments made from income chargeable to tax were eligible for relief under section 80C, settling the matter without any order as to costs. en-us Tue, 01 Feb 2005 00:00:00 +0530 Mon, 20 Jul 2009 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10629 The High Court of ALLAHABAD ruled in favor of the assessee on both issues related to the interpretation of section 80C of the Income-tax Act, 1961. The court held that the assessee was entitled to relief under section 80C for the entire amount of the life insurance premium paid. However, the National Savings Certificates purchased with a loan not repaid during the accounting period did not qualify for the tax benefit. The judgment favored the assessee, concluding that investments made from income chargeable to tax were eligible for relief under section 80C, settling the matter without any order as to costs. Case-Laws Income Tax Tue, 01 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10629