EHRET-DAY CO. v. COMMISSIONER
United States Tax Court
1. During the taxable year the petitioner performed the work of constructing a building in all important particulars called for by the contract, but at the close of the year several minor defects in workmanship remained to be corrected. The architect issued his certificate during the taxable year authorizing a final payment to the contractor and stating that a small amount was retained for final adjustment.
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1. During the taxable year the petitioner performed the work of constructing a building in all important particulars called for by the contract, but at the close of the year several minor defects in workmanship remained to be corrected. The architect issued his certificate during the taxable year authorizing a final payment to the contractor and stating that a small amount was retained for final adjustment. Held that within the meaning of art. 42-4. Regulations 101, the contract was "finally completed" in the taxable year; and that the architect's certificate supports the Commissioner's…
1Opinion of the Court
Ehret-Day Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
EHRET-DAY CO. v. COMMISSIONER
Docket No. 109528
United States Tax Court
2 T.C. 25; 1943 U.S. Tax Ct. LEXIS 148;
June 8, 1943, Promulgated
Decision will be entered under Rule 50.
1. During the taxable year the petitioner performed the work of constructing a building in all important particulars called for by the contract, but at the close of the year several minor defects in workmanship remained to be corrected. The architect issued his certificate during the taxable year authorizing a final payment to the contractor and…
2Cases cited1 opinion
- EHRET-DAY CO. v. COMMISSIONERUnited States Tax Court · 1943