https://www.taxtmi.com/caselaws?id=6745 Where a contract specifically fixes the place of payment for cheque consideration, that stipulation governs the receipt of income for tax purposes. The governing principle is that payment by cheque may be treated as received on delivery if honoured, but only subject to the parties' agreement as to the place of payment. Here, the contract required the cheque or cash consideration to be paid at Wankaner, so transmission of the cheque by post did not make the post office the assessee's agent for receipt. The embedded profits in the sale proceeds were therefore not received in the taxable territories and were received at Wankaner. en-us Wed, 24 Nov 1965 00:00:00 +0530 Sun, 01 Feb 2009 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6745 Where a contract specifically fixes the place of payment for cheque consideration, that stipulation governs the receipt of income for tax purposes. The governing principle is that payment by cheque may be treated as received on delivery if honoured, but only subject to the parties' agreement as to the place of payment. Here, the contract required the cheque or cash consideration to be paid at Wankaner, so transmission of the cheque by post did not make the post office the assessee's agent for receipt. The embedded profits in the sale proceeds were therefore not received in the taxable territories and were received at Wankaner. Case-Laws Income Tax Wed, 24 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6745