https://www.taxtmi.com/caselaws?id=178189 Inter-branch book entries between parts of the same assessee do not by themselves create taxable profit outside India; taxability depends on the real substance of the transaction and the place where income is actually received. An unexplained book balance cannot be treated as profit brought into British India without direct or circumstantial evidence of receipt there. By contrast, profit on a genuine sale in British India remains taxable as income received there, even if internal invoicing between branches shows a notional margin. The note thus distinguishes actual receipt from mere accounting entries for income-tax purposes. en-us Wed, 07 Mar 1945 00:00:00 +0630 Fri, 29 Jan 2016 16:40:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178189 Inter-branch book entries between parts of the same assessee do not by themselves create taxable profit outside India; taxability depends on the real substance of the transaction and the place where income is actually received. An unexplained book balance cannot be treated as profit brought into British India without direct or circumstantial evidence of receipt there. By contrast, profit on a genuine sale in British India remains taxable as income received there, even if internal invoicing between branches shows a notional margin. The note thus distinguishes actual receipt from mere accounting entries for income-tax purposes. Case-Laws Income Tax Wed, 07 Mar 1945 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=178189