Wilson Furniture Co. v. Commissioner
United States Board of Tax Appeals
1. Inventory methods used consistently and uniformly for many years, that substantially reflect the true income, should not be disturbed by adjustments that result in distortion of actual income. 2. Discrepancies appearing upon petitioner's books should, if possible, be so adjusted as to disclose the actual income.
1Opinion of the Court
WILSON FURNITURE CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Wilson Furniture Co. v. Commissioner
Docket No. 11317.
United States Board of Tax Appeals
10 B.T.A. 1294; 1928 BTA LEXIS 3904;
March 12, 1928, Promulgated
1. Inventory methods used consistently and uniformly for many years, that substantially reflect the true income, should not be disturbed by adjustments that result in distortion of actual income.
2. Discrepancies appearing upon petitioner's books should, if possible, be so adjusted as to disclose the actual income.
H. T. Odom, Esq., and L. A. Williams, C.P.A., for…
2Cases cited1 opinion
- Wilson Furniture Co. v. CommissionerUnited States Board of Tax Appeals · 1928