1985 (9) TMI 139 - AT - Income Tax

Summary

The assessee obtained a non-refundable loan from his provident fund and claimed deduction for deemed interest, which was rejected by the ITO and AAC. The Tribunal decided against the assessee on the legal position but restored the matter to the ITO for fresh consideration regarding the interest paid by the assessee. The appeal was allowed for statistical purposes. (Case: Appellate Tribunal ITAT Jaipur, Citation: 1985 (9) TMI 139 - ITAT Jaipur)