https://www.taxtmi.com/caselaws?id=16628 Building tax paid on construction under section 5 of the Kerala Building Tax Act, 1975 was treated as a one-time levy attached to the building as a capital asset, not as a recurring revenue charge. Because the tax formed part of the capital cost of the building, it could not be deducted as business or professional expenditure. The levy was therefore characterised as capital expenditure and as tax on the capital value of the building. The reference was answered against the assessee, with the payment held to be capital in nature and non-deductible. en-us Thu, 24 Oct 1996 00:00:00 +0530 Wed, 09 Sep 2009 10:48:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16628 Building tax paid on construction under section 5 of the Kerala Building Tax Act, 1975 was treated as a one-time levy attached to the building as a capital asset, not as a recurring revenue charge. Because the tax formed part of the capital cost of the building, it could not be deducted as business or professional expenditure. The levy was therefore characterised as capital expenditure and as tax on the capital value of the building. The reference was answered against the assessee, with the payment held to be capital in nature and non-deductible. Case-Laws Income Tax Thu, 24 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16628