https://www.taxtmi.com/caselaws?id=284454 Income represented by bank drafts was treated as brought into the taxable territories when the assessee carried the drafts into India, because a bank draft is a negotiable instrument conveying the underlying funds for the charging provision. The later encashment did not postpone taxability, since it related back to the earlier import of the drafts. On that basis, the amount fell within section 4(1)(b)(iii) of the Income-tax Act, 1922, and was taxable in assessment year 1948-49. en-us Thu, 17 Sep 1964 00:00:00 +0530 Tue, 19 Nov 2019 17:04:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284454 Income represented by bank drafts was treated as brought into the taxable territories when the assessee carried the drafts into India, because a bank draft is a negotiable instrument conveying the underlying funds for the charging provision. The later encashment did not postpone taxability, since it related back to the earlier import of the drafts. On that basis, the amount fell within section 4(1)(b)(iii) of the Income-tax Act, 1922, and was taxable in assessment year 1948-49. Case-Laws Income Tax Thu, 17 Sep 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284454