1984 (2) TMI 172

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....to allow municipal tax as deduction from property income even though the said municipal tax had not been paid by the assessee during the accounting year. 2. The income from property has to be computed with reference to the annual value of the said property. Section 23 of the Income-tax Act, 1961, indicates the manner in which the annual value has to be determined. The first proviso to sub-secti....