Bradstreet Co. of Maine v. Commissioner
United States Board of Tax Appeals
1. Where books are regularly kept on a fiscal year basis, income must be reported on that basis. 2. The taxpayer's method of bookkeeping regularly used for many years reflected income more clearly than the only other method which has been suggested (accruing one-twelfth of the amount of yearly subscriptions in each month), and the Commissioner did not err in determining deficiencies on the basis of that method. 3. Paso Robles Mercantile Co.,12 B.T.A. 750, followed on…
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1. Where books are regularly kept on a fiscal year basis, income must be reported on that basis. 2. The taxpayer's method of bookkeeping regularly used for many years reflected income more clearly than the only other method which has been suggested (accruing one-twelfth of the amount of yearly subscriptions in each month), and the Commissioner did not err in determining deficiencies on the basis of that method. 3. Paso Robles Mercantile Co.,12 B.T.A. 750, followed on question of allocation of tax paid on calendar year returns to liabilities determined on fiscal year basis.
1Opinion of the Court
BRADSTREET COMPANY OF MAINE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Bradstreet Co. of Maine v. Commissioner
Docket Nos. 38555, 41773.
United States Board of Tax Appeals
23 B.T.A. 1093; 1931 BTA LEXIS 1769;
July 13, 1931, Promulgated
1. Where books are regularly kept on a fiscal year basis, income must be reported on that basis.
2. The taxpayer's method of bookkeeping regularly used for many years reflected income more clearly than the only other method which has been suggested (accruing one-twelfth of the amount of yearly subscriptions in each month), and the Commissioner did…
2Cases cited2 opinions
- Paso Robles Mercantile Co. v. CommissionerUnited States Board of Tax Appeals · 1928
- Bradstreet Co. of Maine v. CommissionerUnited States Board of Tax Appeals · 1931