21. Hotel-receipts tax deductible in computing total income under Income-tax Act. - Notwithstanding anything contained in the Income-tax act, in computing the income chargeable to income-tax under the head "profits and gains of business or profession " in the case of an assessee carrying on the business of a hotel to which this Act applies, the hotel-receipts tax payable by the assessee for any assessment year shall be deductible from the profits and gains of the business of the hotel assessable for that assessment year.
