https://www.taxtmi.com/caselaws?id=288886 Receipt by a local agent in British India on behalf of an assessee constitutes receipt by the assessee in British India where the agent does more than act as a mere conduit and receives and deals with the funds under instructions. A payment of one-half of net profits to the French Colonial Government was treated as an application or division of profits after they arose, not as expenditure incurred solely for earning those profits, so no deduction was allowable. The analysis therefore supports taxability of the receipts and denial of the profit-share deduction. en-us Thu, 26 Mar 1931 00:00:00 +0530 Sat, 04 Jul 2020 12:48:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288886 Receipt by a local agent in British India on behalf of an assessee constitutes receipt by the assessee in British India where the agent does more than act as a mere conduit and receives and deals with the funds under instructions. A payment of one-half of net profits to the French Colonial Government was treated as an application or division of profits after they arose, not as expenditure incurred solely for earning those profits, so no deduction was allowable. The analysis therefore supports taxability of the receipts and denial of the profit-share deduction. Case-Laws Income Tax Thu, 26 Mar 1931 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288886