Douthit v. United States

OPINION

ROBERT M. McRAE, Jr., District Judge.

This suit is one for a refund of income taxes paid by Troy and Mildred Douthit and Cecil and Treba Carroll for the calendar year 1961. The following facts are the basis of the action.

Plaintiffs are partners in the Douthit-Carroll-Sanchez Company, an automobile dealership (hereinafter referred to as the partnership). The partnership generally maintained its books on the accrual method of accounting for a fiscal year beginning February 1 and ending January 31 of the following year. One item of income, however, was accounted for on a cash rather than…