https://www.taxtmi.com/caselaws?id=49277 Coffee compulsorily delivered to the Coffee Board under the Coffee Market Expansion Act was treated as a sale by operation of law, because the registered owner retained only a right to receive payment and ceased to own the coffee on delivery. For an assessee maintaining mercantile accounts, income accrued when the sale entry was made in the books on delivery, not when cash was later received. The receipts therefore related to earlier years in which the taxable sale had already occurred, so they were not assessable in the relevant assessment years under the Madras Plantations Agricultural Income-tax Act, 1955. en-us Thu, 07 Oct 1965 00:00:00 +0530 Tue, 19 Aug 2014 19:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49277 Coffee compulsorily delivered to the Coffee Board under the Coffee Market Expansion Act was treated as a sale by operation of law, because the registered owner retained only a right to receive payment and ceased to own the coffee on delivery. For an assessee maintaining mercantile accounts, income accrued when the sale entry was made in the books on delivery, not when cash was later received. The receipts therefore related to earlier years in which the taxable sale had already occurred, so they were not assessable in the relevant assessment years under the Madras Plantations Agricultural Income-tax Act, 1955. Case-Laws Income Tax Thu, 07 Oct 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49277