Thorlight-Duncker Carpet Co. v. Commissioner
United States Board of Tax Appeals
1. STATUTE OF LIMITATIONS. - The statutory period for assessment is shown to have been extended by agreements in writing, consequently, the proposed deficiencies are not barred. Sections 278(c) of the Revenue Acts of 1924 and 1926, and sections 274(a) and 277(b) of the Revenue Act of 1926. 2. CHANGE OF ACCOUNTING PERIOD. - For many years prior to 1919 petitioner had kept its accounts and closed its books on a basis of calendar years.
Read the full summary
1. STATUTE OF LIMITATIONS. - The statutory period for assessment is shown to have been extended by agreements in writing, consequently, the proposed deficiencies are not barred. Sections 278(c) of the Revenue Acts of 1924 and 1926, and sections 274(a) and 277(b) of the Revenue Act of 1926. 2. CHANGE OF ACCOUNTING PERIOD. - For many years prior to 1919 petitioner had kept its accounts and closed its books on a basis of calendar years. It determined to change its system and on October 31, 1919, took its inventory and closed its accounts for the period of 10 months ending on that date. It failed…
1Opinion of the Court
THORLICHT-DUNCKER CARPET COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Thorlight-Duncker Carpet Co. v. Commissioner
Docket No. 19399.
United States Board of Tax Appeals
22 B.T.A. 466; 1931 BTA LEXIS 2113;
February 28, 1931, Promulgated
1. STATUTE OF LIMITATIONS. - The statutory period for assessment is shown to have been extended by agreements in writing, consequently, the proposed deficiencies are not barred. Sections 278(c) of the Revenue Acts of 1924 and 1926, and sections 274(a) and 277(b) of the Revenue Act of 1926.
2. CHANGE OF ACCOUNTING PERIOD. - For many years prior…
2Cases cited3 opinions
- Clendening Co. v. CommissionerUnited States Board of Tax Appeals · 1925
- Virginia Lumber & Box Co. v. CommissionerUnited States Board of Tax Appeals · 1926
- Thorlight-Duncker Carpet Co. v. CommissionerUnited States Board of Tax Appeals · 1931