https://www.taxtmi.com/caselaws?id=49593 Where sale proceeds are realised under a conditional delivery arrangement, the receipt occurs at the place where payment is made and the goods are delivered, because title does not pass until the price is paid. In a V.P.P. transaction, the post office collects the price for the seller, so the income is received at the place of delivery and payment, not merely where the seller resides or dispatches the goods. The same principle applies when railway receipts are released through a bank only against a demand draft: receipt of the price and delivery of the receipts are completed only on payment at the bank's place of action. 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 Where sale proceeds are realised under a conditional delivery arrangement, the receipt occurs at the place where payment is made and the goods are delivered, because title does not pass until the price is paid. In a V.P.P. transaction, the post office collects the price for the seller, so the income is received at the place of delivery and payment, not merely where the seller resides or dispatches the goods. The same principle applies when railway receipts are released through a bank only against a demand draft: receipt of the price and delivery of the receipts are completed only on payment at the bank's place of action. Case-Laws Income Tax Wed, 20 May 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49593