Elmer v. Commissioner
United States Board of Tax Appeals
Upon the facts, held that the petitioner is not entitled to report income for 1922 and 1923 upon the installment sales basis. Packard Cleveland Motor Co.,14 B.T.A. 118, followed.
1Opinion of the Court
*227OPINION.
Smith:
The only issue raised in this proceeding is whether the petitioner is entitled to report his income in 1922 and 1923 upon the installment sales basis as provided in section 212(d) of the Revenue Act of 1926. This section of the statute applies retroactively to the years under consideration and reads as follows:(d) Under regulations prescribed by the Commissioner with the approval of the Secretary, a person who regularly sells or otherwise disposes of personal property on the installment plan may return as income therefrom in any taxable year that proportion of the installment…
2Cited by12 opinions
- Town & Country Food Co. v. CommissionerUnited States Tax Court · 1969
- United Surgical Steel Co. v. CommissionerUnited States Tax Court · 1970
- Mathers v. CommissionerUnited States Tax Court · 1972
- Iowa Guarantee Mortg. Corp. v. CommissionerUnited States Board of Tax Appeals · 1933
- Altmann v. CommissionerUnited States Tax Court · 1968
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