1977 (11) TMI 69

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.... in appeal before us, in the status of individual. He claimed deduction under s. 80C of the IT Act, 1961 in respect of the Life Insurance Premium paid at Rs. 7,953. The ITO disallowed the said claim on the ground that up to the asst. yr. 1973-74 premium in respect of the policy had been paid by the HUF and deduction under s. 80C had been claimed thereby. As the assessee claimed deduction under s. ....

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....n; similarly, an H.U.F., who has paid the premium in respect of the policy drawn on the life of any member of the family is entitled to get the deduction. The ownership of the policy, as emphasised by the AAC, is not the determining factor. The scheme of s. 80C sub-s. (2) seems to be that if the premium has been paid by the individual, he is entitled to get deduction and if the premium in respect ....