https://www.taxtmi.com/caselaws?id=277376 Urban immovable property tax paid under the Bombay Finance Act was examined for deductibility in computing property income under the Income-tax Act, 1922. The tax was not treated as an annual charge under section 9(1)(iv) because the statutory charge under section 24-B of the Bombay Finance Act, 1932 arose only on default and was not a charge on the property for every year. It also did not qualify as land revenue under section 9(1)(v), since the Bombay legislation distinguished the tax from land revenue and made the charge subject to prior payment of land revenue, if any. The deduction claim therefore failed. en-us Fri, 20 Aug 1943 00:00:00 +0630 Mon, 03 Dec 2018 10:41:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277376 Urban immovable property tax paid under the Bombay Finance Act was examined for deductibility in computing property income under the Income-tax Act, 1922. The tax was not treated as an annual charge under section 9(1)(iv) because the statutory charge under section 24-B of the Bombay Finance Act, 1932 arose only on default and was not a charge on the property for every year. It also did not qualify as land revenue under section 9(1)(v), since the Bombay legislation distinguished the tax from land revenue and made the charge subject to prior payment of land revenue, if any. The deduction claim therefore failed. Case-Laws Income Tax Fri, 20 Aug 1943 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=277376