MAHABIR COMMERCIAL CO. LTD vs C.I.T. WEST BENGAL, CALCUTTA

The Supreme Court clarified that under Section 23(2) of the Sale of Goods Act, 1930, the passing of property in unascertained goods occurs when the seller delivers the goods to a carrier without reserving the right of disposal, implying the buyer's assent. The court emphasized that the intention of the parties is crucial in determining the situs of property transfer. Additionally, it discussed the role of letters of credit in international transactions, highlighting their nature and the obligations they create for the parties involved.