Evarts v. Commissioner
United States Board of Tax Appeals
SECTION 44:d), REVENUE ACTS OF 1932. - Commissioner's assertion of a tax under section 44:d) sustained where administratrix upon filing a return in 1934 failed to file bond as permitted by the statute and regulations. F. Harold Johnston,33 B.T.A. 551, distinguished. Erroneous advice given by a deputy collector can not prevent the Commissioner from applying the statute. John D. Biggers,39 B.T.A. 480.
1Opinion of the Court
*863OPINION.
ÁRUNdell :
The statute under which the respondent has determined the deficiency in this proceeding is section 44 (d) of the Eevenue Act of 1932. As far as material here the statute provides for the recognition of gain on the transmission of installment obligations upon the death of the holder, but that there shall be no such recognition if bond is filed with the respondent to assure the return as income by the recipients of the same amount as the decedent would have returned had he lived and received payment.
The bond permitted to be filed in order to suspend recognition of gain on the…
2Cited by1 opinion
- Evarts v. CommissionerUnited States Board of Tax Appeals · 1939