Disallowance u/s 43B - property tax levied by the Municipal ...

Income Tax

April 3, 2020

Disallowance u/s 43B - property tax levied by the Municipal Authority is a charge on the property. Undisputedly, the licensor is the owner of the property, hence, liable to pay the property tax. That being the case, the amount equivalent to the property tax reimbursed to the licensor cannot be treated as rate, tax, fee, cess, etc., as provided u/s 43B(a) - Therefore, the disallowance made has to be deleted.

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Disallowance u/s 43B - property tax levied by the Municipal ...

Income Tax

April 3, 2020

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