https://www.taxtmi.com/caselaws?id=7213 A municipal levy paid for the privilege of carrying on business within municipal limits was held to be business expenditure deductible in computing income because it was not a tax on ascertained profits or gains under the exclusionary provision. The disallowance of part of the repairs, renovations and replacements expenditure at the Calcutta office was also unsustainable because the Tribunal did not identify the allowed and disallowed items or properly examine the alternative claim under the residuary business-expenditure provision. Both issues were decided in favour of the assessee. en-us Wed, 17 Jan 1968 00:00:00 +0530 Thu, 12 Feb 2009 19:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7213 A municipal levy paid for the privilege of carrying on business within municipal limits was held to be business expenditure deductible in computing income because it was not a tax on ascertained profits or gains under the exclusionary provision. The disallowance of part of the repairs, renovations and replacements expenditure at the Calcutta office was also unsustainable because the Tribunal did not identify the allowed and disallowed items or properly examine the alternative claim under the residuary business-expenditure provision. Both issues were decided in favour of the assessee. Case-Laws Income Tax Wed, 17 Jan 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7213