1980 (11) TMI 71

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..... Rs. 26,222 31-3-1970 Rs. 20,000 31-3-1971 Rs. 52,770 6-4-1971 Rs. 29,161 Total Rs. 1,28,153 For making the aforesaid payments, the assessee had arranged for a loan from LIC however, before the aforesaid loan materialised, the assessee procured loans, from his son's wife, and HUF. The LIC advanced the money on 16th Jan., 1971. It can, there .....

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..... contended that just because there was a time gap between the loans taken from the relative and the LIC, the assessee should not be denied the relief under s. 80V. According to him, the said sections intended to encourage the people to pay taxes in time and that there was no need to establish a direct connection between the taking of the loan and the payment of the taxes. He was, however, asked to .....

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