Deemed income on default: withdrawn provident fund amounts may be added to an employee's taxable income upon repayment default. Default in repayment or failure to use withdrawn recognised provident fund sums for the specified purpose permits the Chief Commissioner or Commissioner, at their discretion, to add the withdrawn amount or outstanding instalments to the employee's total income for the year of default or final determination of non utilisation, and the Assessing Officer shall assess the employee accordingly.