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SCHERF v. COMMISSIONER

Docket No. 31267.

20 T.C. 346 (1953)

JOHN G. SCHERF, JR., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated May 14, 1953.

Attorney(s) appearing for the Case

W. H. Albritton, Esq., for the petitioner.

S. Earl Heilman, Esq., for the respondent.

OPINION.

RAUM, Judge:

The Commissioner determined a deficiency in the amount of $4,169.17 in the income tax of the petitioner for the calendar year 1947. Petitioner was a member of a partnership that realized a gain upon sale of its assets in 1947. In filing its return the partnership did not report that gain on the installment basis under section 44 (b)1 of the Internal Revenue Code, as it might have elected to do; rather...

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