Consolidated Asphalt Co. v. Commissioner
United States Board of Tax Appeals
A paving contractor making its return on a cash basis and receiving the contract price upon completion of the construction work may not withhold from gross income a reserve of a portion of the price received, estimated to be the amount required to fulfill its contract obligation to maintain the pavement in good condition for five years after its construction.
1Opinion of the Court
Appeal of CONSOLIDATED ASPHALT CO.
Consolidated Asphalt Co. v. Commissioner
Docket No. 124.
United States Board of Tax Appeals
1 B.T.A. 79; 1924 BTA LEXIS 250;
November 21, 1924, decided Submitted November 13, 1924.
A paving contractor making its return on a cash basis and receiving the contract price upon completion of the construction work may not withhold from gross income a reserve of a portion of the price received, estimated to be the amount required to fulfill its contract obligation to maintain the pavement in good condition for five years after its construction.
Donald Horne, Esq., for the…
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
- Lamson Consolidated Store-Service Co. v. ConynghamNew York Court of Common Pleas · 1895
- Appeal of AustinUnited States Board of Tax Appeals · 1924