Martin v. Commissioner

DARWIN D. MARTIN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

Martin v. Commissioner

Docket Nos. 44776, 50946.

United States Board of Tax Appeals

24 B.T.A. 528; 1931 BTA LEXIS 1625;

October 29, 1931, Promulgated

Section 212(d) of the Revenue Act of 1926 does not permit taxpayers to take deductions for losses upon the installment basis.

Frank J. McGuire, Esq., and William H. Watson, Esq., for the petitioner.

J. E. Marshall, Esq., for the respondent.

MCMAHON

These are proceedings, duly consolidated for hearing and opinion, for the redetermination of deficiencies in income tax as follows:

D…