1984 (11) TMI 117

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....a Ltd. As the provident fund itself is exempt from tax, the assessee did no include the amount of Rs. 4,698 received by the assessee on account of interest of late payment thereof by the assessee's employer i.e., Oil India Ltd. The ITO held that this amount was taxable and hence added the same in the assessees taxable income. The addition has been confirmed by the AAC on appeal on the ground that ....