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1950 (5) TMI 2 - SC - Income TaxWhether the municipal taxes paid by the applicant-company are an allowable deduction under the provisions of Section 9(1)(iv) of the Indian Income-tax Act? Whether the urban immoveable property taxes paid by the applicant-company are an allowable deduction under Section 9(1)(iv) or under Section 9(1)(v) of the Indian Income-tax Act? Held that:- This appeal is allowed and the two questions which were referred to the High Court by the Income-tax Tribunal and cited above are answered in the affirmative.
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