https://www.taxtmi.com/caselaws?id=49748 Recurring municipal property tax and urban immoveable property tax, levied annually on the annual value of the property and made a first charge on it, were construed as an "annual charge" and not a "capital charge" under Section 9(1)(iv) of the Indian Income-tax Act, 1922. The fact that the taxes were collected by half-yearly instalments did not change their true character. On that basis, the taxes were deductible from income from property, and the claimed deduction was allowed. en-us Fri, 26 May 1950 00:00:00 +0530 Fri, 12 Sep 2014 09:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49748 Recurring municipal property tax and urban immoveable property tax, levied annually on the annual value of the property and made a first charge on it, were construed as an "annual charge" and not a "capital charge" under Section 9(1)(iv) of the Indian Income-tax Act, 1922. The fact that the taxes were collected by half-yearly instalments did not change their true character. On that basis, the taxes were deductible from income from property, and the claimed deduction was allowed. Case-Laws Income Tax Fri, 26 May 1950 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49748