https://www.taxtmi.com/caselaws?id=15792 The High Court held that municipal taxes demanded in the relevant previous year for earlier years are deductible in computing the annual value of the property for the assessment year. The court emphasized that liability accrues upon receipt of the demand notice, in line with provisions of the Income-tax Act and municipal laws. Citing precedents from other High Courts, the court ruled in favor of the assessee, allowing the deduction of Rs. 28,687 in municipal taxes for the assessment year 1976-77. The reference was disposed of with no order as to costs. en-us Tue, 20 Jul 1999 00:00:00 +0530 Sat, 29 Aug 2009 11:24:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15792 The High Court held that municipal taxes demanded in the relevant previous year for earlier years are deductible in computing the annual value of the property for the assessment year. The court emphasized that liability accrues upon receipt of the demand notice, in line with provisions of the Income-tax Act and municipal laws. Citing precedents from other High Courts, the court ruled in favor of the assessee, allowing the deduction of Rs. 28,687 in municipal taxes for the assessment year 1976-77. The reference was disposed of with no order as to costs. Case-Laws Income Tax Tue, 20 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15792