https://www.taxtmi.com/caselaws?id=14924 The High Court upheld the Tribunal's decision to allow a deduction of Rs. 25,000 under section 80C of the Income-tax Act, 1961 for a contribution made towards the purchase of a National Savings Certificate. The Court found that the purchase was made from income earned in the previous year, making the assessee eligible for the deduction. The Court declined to address the legal question raised by the Revenue, as the Tribunal's decision was deemed reasonable based on the source of funds for the purchase. en-us Mon, 12 Jun 2000 00:00:00 +0530 Mon, 27 Jul 2009 11:24:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14924 The High Court upheld the Tribunal's decision to allow a deduction of Rs. 25,000 under section 80C of the Income-tax Act, 1961 for a contribution made towards the purchase of a National Savings Certificate. The Court found that the purchase was made from income earned in the previous year, making the assessee eligible for the deduction. The Court declined to address the legal question raised by the Revenue, as the Tribunal's decision was deemed reasonable based on the source of funds for the purchase. Case-Laws Income Tax Mon, 12 Jun 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14924