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2005 (2) TMI 47 - HC - Income TaxBuilding tax - "Whether, Tribunal is right in law in holding that the building tax paid Rs. 1,98,609 under the Kerala Building Tax Act is allowable business expenditure under section 30(b) of the Income-tax Act, 1961?" - When section 30 specifically covers deduction of expenditure or taxes, we do not think the Legislature intended such item of expenditure being considered for deduction under the residuary head of section 37(1) of the Act. In such a situation we answer the question in favour of the Revenue and hold that the building tax paid under the Income-tax Act is not an allowable business expenditure either under section 30(b) or under section 37(1) of the Income-tax Act, 1961.
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