https://www.taxtmi.com/caselaws?id=49593 Under the V.P.P. system the post office or bank acts as agent for collection and conditional appropriation means property and price remain subject to the seller's directions until payment and delivery occur; accordingly receipt of sale proceeds is located at the place where payment and delivery are performed (the places of delivery in Part A or C States) rather than at the seller's residence in Ratlam. The same principle applies where railway receipts are deliverable against demand drafts encashed by bankers: appropriation is conditional and payment is treated as received where collection and delivery occur. en-us Wed, 20 May 1959 00:00:00 +0530 Wed, 03 Sep 2014 22:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49593 Under the V.P.P. system the post office or bank acts as agent for collection and conditional appropriation means property and price remain subject to the seller's directions until payment and delivery occur; accordingly receipt of sale proceeds is located at the place where payment and delivery are performed (the places of delivery in Part A or C States) rather than at the seller's residence in Ratlam. The same principle applies where railway receipts are deliverable against demand drafts encashed by bankers: appropriation is conditional and payment is treated as received where collection and delivery occur. Case-Laws Income Tax Wed, 20 May 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49593