Municipal Tax directly related to let out Property cannot be deducted against other Income

ACIT Vs Camoron Finance & Investments (ITAT Mumbai) Payment of municipal taxes are directly related to letting out of the property, therefore, the same could not be allowed as a deduction under Sec. 57(iii) for the purpose of earning of amenities charges by the assessee. FULL TEXT OF THE ITAT JUDGMENT The present appeal filed by the revenue is directed against the order passed by the CIT(A)-37, Mumbai, dated 28.06.2017, which in turn arises from the order passed by the A.O under Sec. 143(3) r.w.s. 147 of the Income Tax Act, 1961 (for short „Act‟), dated 16.02.2016 for A.Y. 2008-09. The...