Rosenblatt v. New York State Tax Commission

OPINION OF THE COURT

Edward S. Conway, J.

This is an article 78 proceeding in which petitioners seek a judgment setting aside a determination of respondent New York State Tax Commission which denied petitioners’ petition for a redetermination of a deficiency of personal income tax for the year 1972 under article 22 of the Tax Law.

Petitioner Richard D. Rosenblatt sold 50 shares of common stock of Atwood Richards, Inc. on July 22, 1968. He elected to report the resulting long-term capital gain on an installment basis for income tax purposes.

In their 1972 New York State income tax return, the…