Uvalde Co. v. Commissioner
United States Board of Tax Appeals
A corporation engaged in street paving and receiving upon the accrual basis the contract price upon completion of the construction work may not withhold from gross income in the taxable year, through reserves, a portion of the contract price estimated to be the amount required to fulfill its contract obligations to maintain the pavement in good condition for a period of three, five, and ten years, and for possible future expenses of obtaining new paving contracts.
1Opinion of the Court
Appeal of UVALDE COMPANY.
Uvalde Co. v. Commissioner
Docket No. 572.
United States Board of Tax Appeals
1 B.T.A. 932; 1925 BTA LEXIS 2741;
April 6, 1925, decided Submitted February 16, 1925.
A corporation engaged in street paving and receiving upon the accrual basis the contract price upon completion of the construction work may not withhold from gross income in the taxable year, through reserves, a portion of the contract price estimated to be the amount required to fulfill its contract obligations to maintain the pavement in good condition for a period of three, five, and ten years, and for…
2Cases cited4 opinions
- Doyle v. Mitchell Brothers Co.Supreme Court of the United States · 1918
- Consolidated Asphalt Co. v. CommissionerUnited States Board of Tax Appeals · 1924
- Appeal of AustinUnited States Board of Tax Appeals · 1924
- Appeal of Uvalde Co.United States Board of Tax Appeals · 1925