John H. Farish & Co. v. Commissioner of Internal Revenue

KENTON, Circuit Judge.

This is an appeal from a decision of the United States Board of Tax Appeals. Petitioner, herein called appellant, was engaged in the city of St. Louis in the real estate business, which consisted principally in collecting rents for clients. He had in his employ for many years a person acting as cashier and bookkeeper, whose duty was to deposit the money collected as rents in. the bank, where an account covering rent collections 'solely was kept under the name of appellant, he keeping a separate account for his individual funds. This cashier and bookkeeper, instead of…