John M. Brant Co. v. United States

LITTLETON, Judge.

Plaintiff contends that by section 212 (d) of the Revenue Aet of 1926, 26 USCA § 953(d), Congress did not intend that payamente received in years subsequent to a change from the accrual method of accounting to the installment sales method of accounting should be included in taxable net income under the installment sales basis of determining net income; that section 1208 of the Revenue Act of 1926, 26 USCA § 953a, was without significance except to make section 212 (d) retroactive in its application, and whether Congress authorized the inclusion in taxable net income, on the…