https://www.taxtmi.com/caselaws?id=49690 Profits from export sales of unascertained goods were held to arise outside British India where the seller reserved control over the goods and documents of title until completion of the foreign documentary exchange. Although shipped F.O.B. from Madras, title passed only on unconditional appropriation and delivery of the bill of lading after acceptance of the bill of exchange in London, so the place of accrual was outside India. The amounts first advanced in Madras were security advances, not sale proceeds, and the sale price was first realised abroad through the buyer's banks and the seller's foreign agent. Book entries in India did not amount to receipt in British India. en-us Mon, 01 Nov 1954 00:00:00 +0530 Tue, 09 Sep 2014 09:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49690 Profits from export sales of unascertained goods were held to arise outside British India where the seller reserved control over the goods and documents of title until completion of the foreign documentary exchange. Although shipped F.O.B. from Madras, title passed only on unconditional appropriation and delivery of the bill of lading after acceptance of the bill of exchange in London, so the place of accrual was outside India. The amounts first advanced in Madras were security advances, not sale proceeds, and the sale price was first realised abroad through the buyer's banks and the seller's foreign agent. Book entries in India did not amount to receipt in British India. Case-Laws Income Tax Mon, 01 Nov 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49690