1985 (9) TMI 139

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....claimed deduction on account of deemed interest on this money at Rs. 2,486. The ITO rejected this claim on the ground that this deemed interest was an interest to self. This decision has been endorsed by the AAC on appeal filed by the assessee. The assessee has come up in second appeal before the Tribunal. 2. I have heard the representatives of the parties in this appeal at length. The assessee....

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.... Therefore, if he is compensated by the employer by payment of special allowance to meet the expenses incurred on payment of rent, he will be entitled to the benefit of section 10(13A) of the Income-tax Act, 1961 ('the Act'). 3. After carefully considering all the facts and circumstances or the case, I am of the opinion that so far as the legal position is concerned, the matter should be decide....

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....he same would not be covered by clause (vi) of section 24(1) of the Act. 4. However, the papers produced by the assessee show that this loan was to be returned and it was contended on behalf of the assessee that the provident fund did not actually belong to him. Part of it was contributed by the employer. Therefore, the benefit of the payment of interest on this loan would not be available to t....