https://www.taxtmi.com/caselaws?id=49513 Sale proceeds paid to a seller's own bank against railway receipts are treated as received by the seller where the bank is authorised to release the documents only on payment. On the facts, the Imperial Bank acted as the assessee's agent, so payment at Agra, Allahabad or Delhi amounted to receipt in British India for income-tax purposes. The Court treated the place of actual payment to the bank as the place of receipt by the assessee, and the issues of accrual and passing of property were not decisive on the reference. en-us Mon, 17 Oct 1960 00:00:00 +0530 Mon, 01 Sep 2014 21:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49513 Sale proceeds paid to a seller's own bank against railway receipts are treated as received by the seller where the bank is authorised to release the documents only on payment. On the facts, the Imperial Bank acted as the assessee's agent, so payment at Agra, Allahabad or Delhi amounted to receipt in British India for income-tax purposes. The Court treated the place of actual payment to the bank as the place of receipt by the assessee, and the issues of accrual and passing of property were not decisive on the reference. Case-Laws Income Tax Mon, 17 Oct 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49513