Daily Record Co. v. Commissioner
United States Board of Tax Appeals
The petitioner made its income and profits-tax returns for 1921 and prior years on a cash receipts and disbursements basis. It made no material change in its bookkeeping in 1921. Held, that a return on the cash receipts and disbursements basis reflected its true net income for 1921.
1Opinion of the Court
DAILY RECORD CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Daily Record Co. v. Commissioner
Docket No. 12058.
United States Board of Tax Appeals
13 B.T.A. 458; 1928 BTA LEXIS 3244;
September 21, 1928, Promulgated
The petitioner made its income and profits-tax returns for 1921 and prior years on a cash receipts and disbursements basis. It made no material change in its bookkeeping in 1921. Held, that a return on the cash receipts and disbursements basis reflected its true net income for 1921.
Theodore B. Benson, Esq., and Edgar T. Wagner, Esq., for the petitioner.
Bruce A. Low,…
2Cases cited1 opinion
- Daily Record Co. v. CommissionerUnited States Board of Tax Appeals · 1928