Farrara v. Commissioner
United States Tax Court
Held, advance payments for merchandise to be selected and delivered at a later time received without restriction as to use and without obligation to refund are includable in income in the year of receipt. American Automobile Association v. United States, 367 U.S. 687, and Schlude v. Commissioner, 372 U.S. 128, followed.
1Opinion of the Court
Chester and Doris Farrara, Petitioners, v. Commissioner of Internal Revenue, Respondent
Farrara v. Commissioner
Docket No. 4769-63
United States Tax Court
44 T.C. 189; 1965 U.S. Tax Ct. LEXIS 88;
May 14, 1965, Filed
Decision will be entered for the respondent.
Held, advance payments for merchandise to be selected and delivered at a later time received without restriction as to use and without obligation to refund are includable in income in the year of receipt. American Automobile Association v. United States, 367 U.S. 687, and Schlude v. Commissioner, 372 U.S. 128, followed.
William G. O'Neill…
2Cases cited9 opinions
- American Automobile Assn. v. United StatesSupreme Court of the United States · 1961
- Schulde v. CommissionerSupreme Court of the United States · 1963
- Caldwell v. Commissioner of Internal Revenue. Commissioner of Internal Revenue v. CaldwellCourt of Appeals for the Second Circuit · 1953
- Ezo Products Co. v. CommissionerUnited States Tax Court · 1961
- Cox v. CommissionerUnited States Tax Court · 1965
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