https://www.taxtmi.com/caselaws?id=193327 Whether the liability for coal purchase arose before 31 October 1943 turned on the Sale of Goods Act rule that delivery and payment are concurrent obligations; factual findings showed coal was supplied and consumed in June-August 1943. Absent evidence of any contractual agreement with the pooling association postponing price ascertainment, and given the assessee kept mercantile accounts, the burden lay on the assessee to prove otherwise. Applying the concurrency principle, the liability to pay was incurred and ascertainable before the relevant date, and the reference was decided against the assessee. en-us Wed, 09 Jan 1952 00:00:00 +0530 Mon, 24 Jul 2017 17:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193327 Whether the liability for coal purchase arose before 31 October 1943 turned on the Sale of Goods Act rule that delivery and payment are concurrent obligations; factual findings showed coal was supplied and consumed in June-August 1943. Absent evidence of any contractual agreement with the pooling association postponing price ascertainment, and given the assessee kept mercantile accounts, the burden lay on the assessee to prove otherwise. Applying the concurrency principle, the liability to pay was incurred and ascertainable before the relevant date, and the reference was decided against the assessee. Case-Laws Income Tax Wed, 09 Jan 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193327