Bones v. Commissioner
United States Tax Court
1. The amount of commissions due petitioner under a contract was in dispute in 1941 and was not finally fixed until 1942. In 1941 petitioner refused to accept a check which was offered upon the condition that it was in full payment of all commissions, and he made claim for a greater sum.
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1. The amount of commissions due petitioner under a contract was in dispute in 1941 and was not finally fixed until 1942. In 1941 petitioner refused to accept a check which was offered upon the condition that it was in full payment of all commissions, and he made claim for a greater sum. Held, that no part of the commissions was received constructively in 1941. 2. Petitioner exchanged livestock for a note of the purchaser in 1941. The note was payable in 1942. Petitioner agreed to make some adjustments if certain events occurred. The note had full value in 1941. In 1942 the note was paid and…
1Opinion of the Court
Harron, Judge:
The respondent determined a deficiency in income tax for the year 1941 in the amount of $6,760.73. The questions relate to whether two items constituted income to petitioner in the year 1941. Petitioner contends that both items were taxable to him in 1942 rather than in 1941, as respondent has determined. The items which give rise to the two questions presented are a check and a promissory note which were received by petitioner in 1941. The check was not deposited until 1942 and the note was due in 1942. Petitioner filed his return with the collector for the district of…
2Cases cited6 opinions
- North American Oil Consolidated v. BurnetSupreme Court of the United States · 1932
- Brown v. HelveringSupreme Court of the United States · 1934
- Pinellas Ice & Cold Storage Co. v. CommissionerSupreme Court of the United States · 1933
- Fuller v. . KempNew York Court of Appeals · 1893
- Nassoiy v. . TomlinsonNew York Court of Appeals · 1896
1 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Greenspon v. CommissionerUnited States Tax Court · 1954
- Griffith v. CommissionerUnited States Tax Court · 1961
- Harbor Cove Marina Ptnrs. P'ship v. Comm'rUnited States Tax Court · 2004
- Shiner v. TurnoyDistrict Court, N.D. Illinois · 2014
- Fromson v. United StatesUnited States Court of Federal Claims · 1994
13 more not listed; retrieve them via the Exa API.