Cook v. Commissioner
United States Board of Tax Appeals
1. Commissions earned by a partnership which kept its books of account and made its returns on an accrual basis became income for the years in which earned and were a part of the distributive shares of the partners in those years, regardless of the year in which the commissions were collected. 2. Petitioners, not being on an accrual basis, are not subject to tax on salaries until received. 3. Commissioner's adjustment of inventory approved. 4. The Board has no jurisdiction…
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1. Commissions earned by a partnership which kept its books of account and made its returns on an accrual basis became income for the years in which earned and were a part of the distributive shares of the partners in those years, regardless of the year in which the commissions were collected. 2. Petitioners, not being on an accrual basis, are not subject to tax on salaries until received. 3. Commissioner's adjustment of inventory approved. 4. The Board has no jurisdiction to determine questions relating to a year for which an overassessment has been found by the Commissioner. Appeal of…
1Opinion of the Court
APPEALS OF JOHN F. COOK AND BRADFORD C. PATCH.
Cook v. Commissioner
Docket Nos. 6331, 6332.
United States Board of Tax Appeals
4 B.T.A. 916; 1926 BTA LEXIS 2146;
September 22, 1926, Decided
1. Commissions earned by a partnership which kept its books of account and made its returns on an accrual basis became income for the years in which earned and were a part of the distributive shares of the partners in those years, regardless of the year in which the commissions were collected.
2. Petitioners, not being on an accrual basis, are not subject to tax on salaries until received.
3. Commissioner's…
2Cases cited2 opinions
- Cornelius Cotton Mills v. CommissionerUnited States Board of Tax Appeals · 1926
- Cook v. CommissionerUnited States Board of Tax Appeals · 1926