https://www.taxtmi.com/caselaws?id=60598 Interest paid in the relevant previous year on money borrowed to pay income-tax is deductible under section 80V where the borrowing was for payment of tax due under the Act. The timing of the loan itself is immaterial unless the statute expressly links deductibility to the year of borrowing. Because the borrowing was for tax payment and the interest was paid in the relevant year, the statutory conditions were satisfied and the deduction was allowable. en-us Fri, 26 Jun 1987 00:00:00 +0530 Fri, 07 Jan 2011 11:32:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60598 Interest paid in the relevant previous year on money borrowed to pay income-tax is deductible under section 80V where the borrowing was for payment of tax due under the Act. The timing of the loan itself is immaterial unless the statute expressly links deductibility to the year of borrowing. Because the borrowing was for tax payment and the interest was paid in the relevant year, the statutory conditions were satisfied and the deduction was allowable. Case-Laws Income Tax Fri, 26 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60598