1996 (10) TMI 8

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....this reference is as to whether the payment of building tax by the assessee could be considered as business income or capital expenditure. This appears before us with regard to the assessment year 1985-86 in the context of the assessee who is running a tourist home and a bar at Thodupuzha. He paid an amount of Rs. 81,955 towards payment of building tax and claimed deduction contending that it is b....

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....ied with reference to the value of the asset?" In view of the decision of this court in Michael Joseph and Co. v. CIT [1997] 225 ITR 786 (Ker) (to which one of us---myself---was a partner), the questions are now beyond the province of any debate in regard thereto. The Kerala Building Tax Act, 1975, provides for the levy of tax on buildings. Section 5 of the said Act is the charging provision re....