Blum's, Inc. v. Commissioner
United States Board of Tax Appeals
1. A person who regularly sells or otherwise disposes of personal property on the installment plan is entitled, under the provisions of section 1208 of the Revenue Act of 1926, in computing income under the Revenue Acts of 1916, 1917, 1918, 1921, and 1924, to return the income from installment sales by the use of the installment method as prescribed by subdivision (d) of section 212 of the Revenue Act of 1926. 2. A taxpayer who changes from the straight accrual method to the…
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1. A person who regularly sells or otherwise disposes of personal property on the installment plan is entitled, under the provisions of section 1208 of the Revenue Act of 1926, in computing income under the Revenue Acts of 1916, 1917, 1918, 1921, and 1924, to return the income from installment sales by the use of the installment method as prescribed by subdivision (d) of section 212 of the Revenue Act of 1926. 2. A taxpayer who changes from the straight accrual method to the installment sales method of returning income must return as income of the year in which the change is made, and of all…
1Opinion of the Court
APPEAL OF BLUM'S, INCORPORATED.
Blum's, Inc. v. Commissioner
Docket No. 2523.
United States Board of Tax Appeals
7 B.T.A. 737; 1927 BTA LEXIS 3111;
July 26, 1927, Promulgated
1. A person who regularly sells or otherwise disposes of personal property on the installment plan is entitled, under the provisions of section 1208 of the Revenue Act of 1926, in computing income under the Revenue Acts of 1916, 1917, 1918, 1921, and 1924, to return the income from installment sales by the use of the installment method as prescribed by subdivision (d) of section 212 of the Revenue Act of 1926.
2. A taxpayer who…
2Cases cited10 opinions
- United States v. MitchellSupreme Court of the United States · 1926
- B. B. Todd, Inc. v. CommissionerUnited States Board of Tax Appeals · 1925
- Blum's, Inc. v. CommissionerUnited States Board of Tax Appeals · 1927
- Reub Isaacs & Co. v. CommissionerUnited States Board of Tax Appeals · 1924
- Reubel v. CommissionerUnited States Board of Tax Appeals · 1925
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