https://www.taxtmi.com/caselaws?id=276944 The court ruled that the sum received by the non-resident assessee company in British India was not liable to tax. The court found that the cheques received from the Government of India constituted an unconditional discharge of the debt, and the assessee accepted them as such. Additionally, the court held that the mere receipt of a cheque qualifies as income under the Income-tax Act, aligning with commercial principles. The argument that the posting of the cheque in Delhi constituted receipt in British India was rejected. The court ordered the Commissioner to pay costs, including those of the remand, and answered the reference accordingly. en-us Mon, 17 Sep 1951 00:00:00 +0530 Tue, 20 Nov 2018 16:31:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276944 The court ruled that the sum received by the non-resident assessee company in British India was not liable to tax. The court found that the cheques received from the Government of India constituted an unconditional discharge of the debt, and the assessee accepted them as such. Additionally, the court held that the mere receipt of a cheque qualifies as income under the Income-tax Act, aligning with commercial principles. The argument that the posting of the cheque in Delhi constituted receipt in British India was rejected. The court ordered the Commissioner to pay costs, including those of the remand, and answered the reference accordingly. Case-Laws Income Tax Mon, 17 Sep 1951 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276944