Big Lake Oil Co. v. Commissioner
United States Board of Tax Appeals
A block of stock which was to be divided among a group of oil producers, based proportionately upon their deliveries during a period ending December 1, 1926, in fulfilling a certain contract, was not income received until they filed their agreement of division in 1927.
1Opinion of the Court
BIG LAKE OIL COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Big Lake Oil Co. v. Commissioner
Docket No. 52803.
United States Board of Tax Appeals
34 B.T.A. 1003; 1936 BTA LEXIS 612;
September 23, 1936, Promulgated
A block of stock which was to be divided among a group of oil producers, based proportionately upon their deliveries during a period ending December 1, 1926, in fulfilling a certain contract, was not income received until they filed their agreement of division in 1927.
S. Leo Ruslander, Esq., for the petitioner.
Conway N. Kitchen, Esq., for the respondent.
MURDOCK
OPINIO…
2Cases cited1 opinion
- Big Lake Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1936