https://www.taxtmi.com/caselaws?id=39394 Negotiable instruments remitted through banks, post, cheques, drafts or hundies were treated as received in British India where the parties' course of dealing showed acceptance of that mode of payment, so the first receipt occurred in the taxable territories and the sale proceeds were taxable under section 4(1)(a). The same principle applied to remittances from British Indian merchants and from the Textile Directorate, because posting or banking of the instruments in British India constituted receipt through the assessee's agent. For depreciation, however, the written down value of a non-resident asset had to be reduced only by depreciation actually allowed in computing income taxed in the taxable territories, not by depreciation used only for world income. en-us Mon, 14 Jul 1975 00:00:00 +0530 Fri, 16 Apr 2010 12:04:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39394 Negotiable instruments remitted through banks, post, cheques, drafts or hundies were treated as received in British India where the parties' course of dealing showed acceptance of that mode of payment, so the first receipt occurred in the taxable territories and the sale proceeds were taxable under section 4(1)(a). The same principle applied to remittances from British Indian merchants and from the Textile Directorate, because posting or banking of the instruments in British India constituted receipt through the assessee's agent. For depreciation, however, the written down value of a non-resident asset had to be reduced only by depreciation actually allowed in computing income taxed in the taxable territories, not by depreciation used only for world income. Case-Laws Income Tax Mon, 14 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39394