TMI Blog1973 (3) TMI 5X X X X Extracts X X X X X X X X Extracts X X X X ..... ars to have failed to establish the fact that the banker functioned as the agent of the assessee. If the banker had functioned as the agent of the purchaser, then it cannot be said that any part of the income was realised in British India - - - - - Dated:- 5-3-1973 - Judge(s) : H. R. KHANNA., K. S. HEGDE. and P. JAGANMOHAN REDDY. JUDGMENT The judgment of the court was delivered by H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... High Court has answered that question in the affirmative in favour of the assessee. The assessee is a dealer in cloth in the Bhilwara town in one of the former Indian States. It sold certain bales of cloth to dealers in the then British India. The total price realised in respect of those sales in the assessment year in question was Rs. 2,73,488. The question for consideration is whether the pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r receiving the railway receipts, the purchasers appear to have paid the sale price to a banker who is the banker of the assessee as well. The question for consideration is whether the banker received the money on behalf of the assessee or on behalf of the purchaser. The Tribunal has come to the conclusion that the banker was the agent of the purchasers and not the agent of the assessee. This agai ..... X X X X Extracts X X X X X X X X Extracts X X X X
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