J. W. & A. P. Howard Co. v. Commissioner
United States Board of Tax Appeals
Petitioner priced the inventories in its return for the fiscal year ended March 31, 1920, on the basis of cost, such return having been filed prior to the issuance of Treasury Decision 3108, which gave taxpayers the authority to price their inventories on the basis of cost or market, whichever was lower, regardless of their past practice.
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Petitioner priced the inventories in its return for the fiscal year ended March 31, 1920, on the basis of cost, such return having been filed prior to the issuance of Treasury Decision 3108, which gave taxpayers the authority to price their inventories on the basis of cost or market, whichever was lower, regardless of their past practice. In the return filed for the fiscal year ended March 31, 1921, petitioner priced its closing inventory on the basis of cost or market, whichever was lower. In November, 1921, petitioner submitted revised inventories for the fiscal year ended March 31, 1920,…
1Opinion of the Court
J. W. & A. P. HOWARD CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
J. W. & A. P. Howard Co. v. Commissioner
Docket No. 19863.
United States Board of Tax Appeals
15 B.T.A. 1096; 1929 BTA LEXIS 2729;
March 26, 1929, Promulgated
Petitioner priced the inventories in its return for the fiscal year ended March 31, 1920, on the basis of cost, such return having been filed prior to the issuance of Treasury Decision 3108, which gave taxpayers the authority to price their inventories on the basis of cost or market, whichever was lower, regardless of their past practice. In the return…
2Cases cited1 opinion
- J. W. & A. P. Howard Co. v. CommissionerUnited States Board of Tax Appeals · 1929