https://www.taxtmi.com/caselaws?id=290624 Foreign income spent in England on mill stores and machinery, later imported into British India, was not income "received or brought into British India" under Section 4(2) of the Indian Income Tax Act, 1922. The charging provision applies to income only when it accrues, arises, is received, or is deemed received in British India; once the foreign income is spent abroad and loses its character as income, the later arrival of goods purchased with it does not bring that income into India. The inclusion in taxable income was therefore unsustainable and the assessee succeeded. en-us Tue, 14 Nov 1939 00:00:00 +0530 Wed, 07 Oct 2020 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290624 Foreign income spent in England on mill stores and machinery, later imported into British India, was not income "received or brought into British India" under Section 4(2) of the Indian Income Tax Act, 1922. The charging provision applies to income only when it accrues, arises, is received, or is deemed received in British India; once the foreign income is spent abroad and loses its character as income, the later arrival of goods purchased with it does not bring that income into India. The inclusion in taxable income was therefore unsustainable and the assessee succeeded. Case-Laws Income Tax Tue, 14 Nov 1939 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290624