https://www.taxtmi.com/article/detailed?id=16238 High seas sale transactions are non-speculative where the goods are actually delivered to the purchaser and the transfer is supported by proper documentary evidence. Relevant evidence includes the high seas sale agreement, bill of lading, bill of entry, foreign supplier invoice, import general manifest, out of charge documents, and corresponding purchase and sale entries in the books of account. Where such documents establish a genuine transfer of goods rather than a paper transaction, the transaction is treated as non-speculative; absence of delivery may attract speculative treatment. en-us Tue, 21 Apr 2026 08:50:20 +0530 Tue, 21 Apr 2026 08:50:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16238 High seas sale transactions are non-speculative where the goods are actually delivered to the purchaser and the transfer is supported by proper documentary evidence. Relevant evidence includes the high seas sale agreement, bill of lading, bill of entry, foreign supplier invoice, import general manifest, out of charge documents, and corresponding purchase and sale entries in the books of account. Where such documents establish a genuine transfer of goods rather than a paper transaction, the transaction is treated as non-speculative; absence of delivery may attract speculative treatment. Articles Income Tax Tue, 21 Apr 2026 08:50:20 +0530 https://www.taxtmi.com/article/detailed?id=16238