https://www.taxtmi.com/caselaws?id=49565 The Supreme Court held that profits embedded in the sale price received by a company acting as a selling agent for foreign corporations were taxable in India when the price was realized in the taxable territories. The Court emphasized that the goods remained the property of the foreign corporations until sold, rejecting the argument that pre-sale remittances were not taxable income. The judgment clarified that income receipt at the place of price realization determined tax liability, establishing that sales profits were taxable in India regardless of remittance timing. The Court partially allowed the appeal, awarding costs to the appellant. en-us Wed, 10 Aug 1960 00:00:00 +0530 Tue, 26 Apr 2016 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49565 The Supreme Court held that profits embedded in the sale price received by a company acting as a selling agent for foreign corporations were taxable in India when the price was realized in the taxable territories. The Court emphasized that the goods remained the property of the foreign corporations until sold, rejecting the argument that pre-sale remittances were not taxable income. The judgment clarified that income receipt at the place of price realization determined tax liability, establishing that sales profits were taxable in India regardless of remittance timing. The Court partially allowed the appeal, awarding costs to the appellant. Case-Laws Income Tax Wed, 10 Aug 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49565