Burrell Groves, Inc. v. Commissioner
United States Tax Court
Installment Method -- Satisfaction or Disposition of Installment Obligation -- Sec. 44, I. R. C., 1939. -- The previously unreported gain from a sale being reported under section 44 (b) of the Internal Revenue Code of 1939 became taxable when the installment obligations were satisfied by the acceptance of obligations of a third party who purchased the property from the original obligee.
1Opinion of the Court
Burrell Groves, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Burrell Groves, Inc. v. Commissioner
Docket No. 39264
United States Tax Court
22 T.C. 1134; 1954 U.S. Tax Ct. LEXIS 113;
August 31, 1954, Filed August 31, 1954, Filed
Decision will be entered for the respondent.
Installment Method -- Satisfaction or Disposition of Installment Obligation -- Sec. 44, I. R. C., 1939. -- The previously unreported gain from a sale being reported under section 44 (b) of the Internal Revenue Code of 1939 became taxable when the installment obligations were satisfied by the acceptance of…
2Cases cited3 opinions
- Burrell Groves, Inc. v. CommissionerUnited States Tax Court · 1954
- Morrison v. CommissionerUnited States Tax Court · 1949
- Spencer v. GrangerDistrict Court, W.D. Pennsylvania · 1952