https://www.taxtmi.com/caselaws?id=19512 The High Court of Orissa ruled that a deduction under section 80C of the Income-tax Act requires a direct nexus between the investment and the income chargeable to tax in the previous year. The court held that the deduction cannot be claimed if the sum paid does not originate from the chargeable income of the assessee during that year. Consequently, the Tribunal's decision to allow the deduction without a clear link between the investment and the taxable income was deemed unjustified. The judgment favored the Revenue over the assessee in this case. en-us Tue, 13 Dec 1994 00:00:00 +0530 Fri, 06 Nov 2009 16:33:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19512 The High Court of Orissa ruled that a deduction under section 80C of the Income-tax Act requires a direct nexus between the investment and the income chargeable to tax in the previous year. The court held that the deduction cannot be claimed if the sum paid does not originate from the chargeable income of the assessee during that year. Consequently, the Tribunal's decision to allow the deduction without a clear link between the investment and the taxable income was deemed unjustified. The judgment favored the Revenue over the assessee in this case. Case-Laws Income Tax Tue, 13 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19512