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<h1>Deduction of Municipal Taxes on Unutilized Business Plot Validated by High Court Precedents</h1> The High Court allowed deduction of municipal taxes on a purchased plot for business purposes even before it was utilized for business, based on ... Actual Cost, Depreciation The High Court allowed deduction of municipal taxes on a purchased plot for business purposes even before it was utilized for business, based on precedents from other High Courts. The Income-tax Appellate Tribunal did not err in holding the municipal tax as a business expenditure.