https://www.taxtmi.com/caselaws?id=181110 A municipal professional tax linked to the valuation and use of business premises, rather than to profits or gains, was held deductible in computing business income. The statutory bar on allowance of cess, rate or tax levied on profits or gains did not apply because the levy was not assessed by reference to business profits. The payment was therefore treated as a business-related municipal tax falling within the allowance for tax paid in respect of premises used for business, and the assessee's claim was accepted. en-us Tue, 23 Jan 1968 00:00:00 +0530 Thu, 07 Apr 2016 15:58:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181110 A municipal professional tax linked to the valuation and use of business premises, rather than to profits or gains, was held deductible in computing business income. The statutory bar on allowance of cess, rate or tax levied on profits or gains did not apply because the levy was not assessed by reference to business profits. The payment was therefore treated as a business-related municipal tax falling within the allowance for tax paid in respect of premises used for business, and the assessee's claim was accepted. Case-Laws Income Tax Tue, 23 Jan 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181110