https://www.taxtmi.com/caselaws?id=70525 Employer loans to selected employees for house and share purchase, when repayable with interest and supported by security, were treated as commercial arrangements rather than employment perquisites. As no objective concession or valuation basis was shown, the additions under section 17(2) were unsustainable and deleted. Interest credited by a recognised provident fund retained its character as interest income even if assessed under salary head, so it remained eligible for section 80L relief. The claim was allowable in principle, with computation to be worked out by the assessing authority. en-us Mon, 13 Jul 1981 00:00:00 +0530 Sat, 16 Apr 2011 15:59:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70525 Employer loans to selected employees for house and share purchase, when repayable with interest and supported by security, were treated as commercial arrangements rather than employment perquisites. As no objective concession or valuation basis was shown, the additions under section 17(2) were unsustainable and deleted. Interest credited by a recognised provident fund retained its character as interest income even if assessed under salary head, so it remained eligible for section 80L relief. The claim was allowable in principle, with computation to be worked out by the assessing authority. Case-Laws Income Tax Mon, 13 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70525