Rice, Barton & Fales, Inc. v. Commissioner
United States Board of Tax Appeals
1. The profit realized on a certain contract for the manufacture and sale of book-paper-making machines held to be taxable income in the year 1921. 2. Held, that the additional amount received on the sales price of a paper-making machine is taxable income in 1921, the year in which it was received.
1Opinion of the Court
RICE, BARTON & FALES, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Rice, Barton & Fales, Inc. v. Commissioner
Docket No. 14229.
United States Board of Tax Appeals
15 B.T.A. 510; 1929 BTA LEXIS 2840;
February 20, 1929, Promulgated
1. The profit realized on a certain contract for the manufacture and sale of book-paper-making machines held to be taxable income in the year 1921.
2. Held, that the additional amount received on the sales price of a paper-making machine is taxable income in 1921, the year in which it was received.
Harry Friedman, Esq., for the petitioner.
Byron M. Coon,…
2Cases cited1 opinion
- Rice, Barton & Fales, Inc. v. CommissionerUnited States Board of Tax Appeals · 1929