https://www.taxtmi.com/caselaws?id=289964 Income from money-lending operations carried on outside British India by agents was not taxable under the Indian Income Tax Act, VII of 1918, because the profits neither accrued nor arose nor were received in British India. The Court held that the charging scheme depended on the place of accrual, arising or receipt, not on the proprietor's residence. Occasional general instructions from British India did not amount to carrying on the business there, and the statutory deeming provisions could not be stretched to tax income earned and retained abroad. Administrative practice under the earlier law supported this construction, and the assessee succeeded. en-us Wed, 01 Oct 1919 00:00:00 +0530 Tue, 01 Sep 2020 12:06:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289964 Income from money-lending operations carried on outside British India by agents was not taxable under the Indian Income Tax Act, VII of 1918, because the profits neither accrued nor arose nor were received in British India. The Court held that the charging scheme depended on the place of accrual, arising or receipt, not on the proprietor's residence. Occasional general instructions from British India did not amount to carrying on the business there, and the statutory deeming provisions could not be stretched to tax income earned and retained abroad. Administrative practice under the earlier law supported this construction, and the assessee succeeded. Case-Laws Income Tax Wed, 01 Oct 1919 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289964