Herberger v. Commissioner
United States Tax Court
Petitioner processed and sold pickles. His sales were for cash but he took an inventory at the end of the year and on his returns used inventories in computing cost of goods sold. He sold his entire stock in 1944 for a fixed price, of which part was paid in 1944 and part in 1945. Held, respondent did not err in computing income on the accrual basis and in accruing as 1944 income the unpaid part of the purchase price.
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Petitioner processed and sold pickles. His sales were for cash but he took an inventory at the end of the year and on his returns used inventories in computing cost of goods sold. He sold his entire stock in 1944 for a fixed price, of which part was paid in 1944 and part in 1945. Held, respondent did not err in computing income on the accrual basis and in accruing as 1944 income the unpaid part of the purchase price. In 1943 and 1944 petitioner sold pickles invoicing them at OPA ceiling prices and collecting an additional amount in cash which he concealed and did not report for entry on his…
1Opinion of the Court
George Herberger v. Commissioner. Mabel Herberger v. Commissioner.
Herberger v. Commissioner
Docket Nos. 22117 and 22118.
United States Tax Court
1950 Tax Ct. Memo LEXIS 166; 9 T.C.M. (CCH) 546; T.C.M. (RIA) 50165;
June 28, 1950
Petitioner processed and sold pickles. His sales were for cash but he took an inventory at the end of the year and on his returns used inventories in computing cost of goods sold. He sold his entire stock in 1944 for a fixed price, of which part was paid in 1944 and part in 1945. Held, respondent did not err in computing income on the accrual basis and in accruing as 1944…
2Cases cited2 opinions
- Carpenter v. CommissionerUnited States Tax Court · 1948
- Franklin v. CommissionerUnited States Board of Tax Appeals · 1936
3Cited by1 opinion
- Union Fishermen's Cooperative Packing Co. v. EarleDistrict Court, D. Oregon · 1954