1994 (12) TMI 20

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....law was referred to us by the Income-tax Appellate Tribunal for our opinion : " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is correct in law in allowing the assessee's claim under section 10(13A) ? " The question arises in respect of the assessment years 1979-80 and 1980-81. The assessee is the managing director of Krishi Engineering Company. He was grante....

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....e removal of doubts, it is hereby declared that nothing contained in this clause shall apply in a case where-- (a) the residential accommodation occupied by the assessee is owned by him ; or (b) the assessee has not actually incurred expenditure on payment of rent by whatever name called in respect of the residential accommodation occupied by him. It may be noted that the said Explanation was i....