McDaniel v. Commissioner
United States Tax Court
Petitioner, under section 29.22(c)-6 of Regulations 111, elected to change the basis of his return for the year 1947 from that of cash receipts and disbursements used in prior years to an inventory basis. Petitioner, a farmer, has the right to make such change without securing the formal permission of the Commissioner provided he complies with the regulations.
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Petitioner, under section 29.22(c)-6 of Regulations 111, elected to change the basis of his return for the year 1947 from that of cash receipts and disbursements used in prior years to an inventory basis. Petitioner, a farmer, has the right to make such change without securing the formal permission of the Commissioner provided he complies with the regulations. Held, petitioner did not comply with the applicable regulations and the Commissioner is sustained in refusing to recognize his right to use an accrual basis. Kenneth S. Battelle, 9 T. C. 299, distinguished.
1Opinion of the Court
OPINION.
Black, Judge:
Respondent has determined a deficiency against petitioner for the taxable year 1947. Petitioner contends that the years 1944'and 1945 are also in issue, respondent having denied petitioner’s claims for refund for the years 1944 and 1945. We have no jurisdiction to grant refunds for 1944 and 1945 because the Commissioner has not determined a deficiency in those years. Section 272, I. R. C.
The only issue here is whether petitioner, beginning with the calendar year 1947, may change from the cash receipts and disbursements method of reporting his income to the farm inventory…
2Cases cited1 opinion
- Battelle v. CommissionerUnited States Tax Court · 1947
3Cited by1 opinion
- McDaniel v. CommissionerUnited States Tax Court · 1952