https://www.taxtmi.com/caselaws?id=60428 The Tribunal held that the assessee failed to establish eligibility for deduction under Section 80C of the Income Tax Act, overturning the AAC's decision. The Tribunal emphasized that the amount from the Life Insurance Policy maturity did not qualify as income chargeable to tax, as it was not received periodically or regularly from a definite source. Relying on legal principles and precedents, the Tribunal reinstated the ITO's decision, denying the deduction on the National Savings Certificate investment sourced from the Life Insurance Policy maturity amount. en-us Fri, 29 Jan 1988 00:00:00 +0530 Wed, 05 Jan 2011 12:37:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60428 The Tribunal held that the assessee failed to establish eligibility for deduction under Section 80C of the Income Tax Act, overturning the AAC's decision. The Tribunal emphasized that the amount from the Life Insurance Policy maturity did not qualify as income chargeable to tax, as it was not received periodically or regularly from a definite source. Relying on legal principles and precedents, the Tribunal reinstated the ITO's decision, denying the deduction on the National Savings Certificate investment sourced from the Life Insurance Policy maturity amount. Case-Laws Income Tax Fri, 29 Jan 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60428