Drazen v. Commissioner
United States Tax Court
Where petitioners changed the method of reporting income from the cash basis to an accrual basis without the prior consent of the respondent, held, petitioners failed to sustain the burden of showing that the cash basis did not clearly and accurately reflect income.
1Opinion of the Court
OPINION.
Van Fossan, Judge:
The sole issue is whether respondent erred in denying petitioners and the partnership permission to report income for 1953 on an accrual basis of accounting.
Respondent made certain minor adjustments to petitioners’ income as reported on the cash basis, thus giving rise to the deficiencies for 1953. Petitioners did not place these adjustments in issue and conceded their correctness at the hearing. The concessions will be given effect in the recomputation under Rule 50.
Section 41 of the Internal Revenue Code of 1939 requires (1) the income to be computed “upon the…
2Cases cited22 opinions
- Beacon Publishing Company, a Kansas Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1955
- Guardian Investment Corporation v. Robert L. Phinney, District Director of Internal RevenueCourt of Appeals for the Fifth Circuit · 1958
- The Crosley Corporation v. United StatesCourt of Appeals for the Sixth Circuit · 1956
- United States Industrial Alcohol Co. v. HelveringCourt of Appeals for the Second Circuit · 1943
- Schram v. United StatesCourt of Appeals for the Sixth Circuit · 1941
17 more not listed; retrieve them via the Exa API.
3Cited by55 opinions
- Knight-Ridder Newspapers, Inc. v. United StatesCourt of Appeals for the Eleventh Circuit · 1984
- Sandor v. CommissionerUnited States Tax Court · 1974
- Ft. Howard Paper Co. v. CommissionerUnited States Tax Court · 1967
- Baird v. CommissionerUnited States Tax Court · 1977
- Burck v. CommissionerUnited States Tax Court · 1975
50 more not listed; retrieve them via the Exa API.