https://www.taxtmi.com/caselaws?id=286340 Municipal taxes payable by a tenant under a lease are treated as part of the rent when fixing rateable value under Rule 7(1). The provision contemplates deduction of 10 per cent from annual rent in lieu of all allowances, so the annual rent is taken as the full consideration received under the lease. Although the Act does not define rent, its meaning is informed by section 105 of the Transfer of Property Act and may include money or any other periodic thing of value. Where the tenant pays municipal taxes, the landlord is relieved of a statutory burden, and that payment forms part of the lease consideration. en-us Thu, 10 Jan 1957 00:00:00 +0530 Fri, 21 Feb 2020 16:24:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286340 Municipal taxes payable by a tenant under a lease are treated as part of the rent when fixing rateable value under Rule 7(1). The provision contemplates deduction of 10 per cent from annual rent in lieu of all allowances, so the annual rent is taken as the full consideration received under the lease. Although the Act does not define rent, its meaning is informed by section 105 of the Transfer of Property Act and may include money or any other periodic thing of value. Where the tenant pays municipal taxes, the landlord is relieved of a statutory burden, and that payment forms part of the lease consideration. Case-Laws Indian Laws Thu, 10 Jan 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286340