Berry Trust v. Commissioner
United States Tax Court
Petitioner Dixie Shops, Inc., held entitled to elect to compute income from installment sales made during 1942 on an accrual basis under section 736 (a), I. R. C. 1939, for purposes of reporting its excess profits tax liability for the taxable year ended December 31, 1942.
1Opinion of the Court
OPINION.
Withet, Judge:
Section 736(a) 2 of the Internal Revenue Code of 1939 granted to installment basis taxpayers who came within its terms an election to report income on an accrual basis for excess profits tax purposes. Taxpayers so electing were required to recompute their income on an accrual basis for all previous excess profits tax taxable years. The portion of section 736 (a) here pertinent provides that any taxpayer computing income from installment sales under the method provided by section 44 (a) of the 1939 Code who establishes that—
the average outstanding installment accounts…
2Cases cited1 opinion
- Mackin Corp. v. CommissionerUnited States Tax Court · 1946
3Cited by3 opinions
- Farmers Cooperative Co. v. CommissionerUnited States Tax Court · 1959
- Berry Trust v. CommissionerUnited States Tax Court · 1956
- Farmers Cooperative Co. v. CommissionerUnited States Tax Court · 1959