Vaughan v. Commissioner
United States Board of Tax Appeals
ACCOUNTING - CALENDAR OR FISCAL YEAR BASIS. - Petitioner was a member of a partnership which regularly filed returns of income as for a calendar year, but in each instance computed such income over a period ending subsequent to the calendar year, closing its books for the computation of income sometimes on one date and sometimes another.
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ACCOUNTING - CALENDAR OR FISCAL YEAR BASIS. - Petitioner was a member of a partnership which regularly filed returns of income as for a calendar year, but in each instance computed such income over a period ending subsequent to the calendar year, closing its books for the computation of income sometimes on one date and sometimes another. Petitioner, making his return on the basis of a calendar year, regularly included his proportionate share of the partnership earnings as reported by the partnership for such calendar year. Held that the partnership income for 1920 should be computed on the…
1Opinion of the Court
J. W. VAUGHAN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Vaughan v. Commissioner
Docket No. 21782.
United States Board of Tax Appeals
19 B.T.A. 478; 1930 BTA LEXIS 2387;
April 3, 1930, Promulgated
ACCOUNTING - CALENDAR OR FISCAL YEAR BASIS. - Petitioner was a member of a partnership which regularly filed returns of income as for a calendar year, but in each instance computed such income over a period ending subsequent to the calendar year, closing its books for the computation of income sometimes on one date and sometimes another. Petitioner, making his return on the basis of a…
2Cases cited1 opinion
- Vaughan v. CommissionerUnited States Board of Tax Appeals · 1930