John Thatcher & Son v. Commissioner
United States Board of Tax Appeals
In March 1917 the petitioner, a contractor engaged in the building construction business, agreed to build an Elks Lodge in the city of New Orleans, Louisiana, which building was completed in 1919. Subconttracts were let to four certain individuals and firms, and bonds were furnished by them for the faithful performance of the subcontracts.
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In March 1917 the petitioner, a contractor engaged in the building construction business, agreed to build an Elks Lodge in the city of New Orleans, Louisiana, which building was completed in 1919. Subconttracts were let to four certain individuals and firms, and bonds were furnished by them for the faithful performance of the subcontracts. These subcontractors defaulted and the petitioner, as the main contractor, was obliged to carry out the contracts at a cost to it of $63,785.60 in excess of what it received for completing the work. Suit was instituted against the subcontractors and the…
1Opinion of the Court
JOHN THATCHER & SON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
John Thatcher & Son v. Commissioner
Docket Nos. 56888, 65545.
United States Board of Tax Appeals
30 B.T.A. 510; 1934 BTA LEXIS 1318;
April 26, 1934, Promulgated
In March 1917 the petitioner, a contractor engaged in the building construction business, agreed to build an Elks Lodge in the city of New Orleans, Louisiana, which building was completed in 1919. Subconttracts were let to four certain individuals and firms, and bonds were furnished by them for the faithful performance of the subcontracts. These subcontractors…
2Cases cited1 opinion
- John Thatcher & Son v. CommissionerUnited States Board of Tax Appeals · 1934