Realty Loan Corporation v. Commissioner of Internal Revenue, Realty Loan Corporation v. Commissioner of Internal Revenue

ALFRED T. GOODWIN, Circuit Judge:

The Commissioner of Internal Revenue appeals from a Tax Court decision permitting Realty Loan Corporation, an accrual-basis taxpayer, to report the income from the sale of a business on the installment basis. 54 T.C. 1083 (1970).

Realty Loan originally sought to treat the proceeds of the sale as capital gain, and has filed a protective appeal from the Tax Court decision denying capital-gain treatment. Because we affirm the decision insofar as it permitted the taxpayer to report the proceeds of the sale on the installment basis, we do not reach the question…