https://www.taxtmi.com/caselaws?id=39236 Municipal taxes were deductible in computing annual letting value of an owner-occupied residential property, following the High Court's earlier binding view, and the assessee succeeded on that issue. Recoveries of amounts earlier written off as bad debts were taxable under section 41(4) because the write-off under the repealed 1922 Act was saved by the transition provisions and the General Clauses Act, and the corresponding order was treated as continuing under the 1961 Act; alternatively, the deeming language was read to cover recoveries contemplated by the provision. The revenue succeeded on that issue, and the recoveries were taxed as income of the year of recovery. en-us Fri, 27 Feb 1976 00:00:00 +0530 Wed, 14 Apr 2010 10:18:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39236 Municipal taxes were deductible in computing annual letting value of an owner-occupied residential property, following the High Court's earlier binding view, and the assessee succeeded on that issue. Recoveries of amounts earlier written off as bad debts were taxable under section 41(4) because the write-off under the repealed 1922 Act was saved by the transition provisions and the General Clauses Act, and the corresponding order was treated as continuing under the 1961 Act; alternatively, the deeming language was read to cover recoveries contemplated by the provision. The revenue succeeded on that issue, and the recoveries were taxed as income of the year of recovery. Case-Laws Income Tax Fri, 27 Feb 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39236