TIETJENS, Judge:
This proceeding involves a deficiency in income tax for the taxable year 1953 in the amount of $624.40.
The issue for decision is whether petitioners received by way of initial payments less than 30 per cent of the selling price of their transportation business, thus entitling them to report its sale on the installment basis under section 44(b) of the 1939 Internal Revenue Code.
FINDINGS OF FACT.
During 1953, Daniel...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.