1999 (10) TMI 48

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..... under section 256(1) of the Income-tax Act, 1961 (in short "the Act"), by the Income-tax Appellate Tribunal, Cochin Bench (in short "the Tribunal"), for opinion of this court : "Whether, on the facts and in the circumstances of the case, the assessee is entitled to claim deduction of the contribution made to public provident fund even though the contribution had not come, out of the income char .....

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..... al allowed the claim. Thereafter, the reference was sought for and the prayer was accepted. According to learned counsel for the Revenue, the approach of the Tribunal is erroneous as it failed to notice the clear and unambiguous language of section 80C of the Act. None appeared for the assessee in spite of the notice. In order to appreciate the stand of the Revenue, it is necessary to take not .....

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..... gic was that though section 15(1) of the 1922 Act in terms does not say that the tax shall not be payable in respect of any sums paid by an assessee out of his total income to effect an insurance on the life of the assessee, it would not make any difference. The language in which the sub-section is couched postulates that the sums exempted under sub-section (1) of section 15 (of the 1922 Act), wou .....

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