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BIG "D" DEVELOPMENT CORPORATION v. COMMISSIONER

Docket No. 4758-68.

30 T.C.M. 646 (1971)

T.C. Memo. 1971-148

Big "D" Development Corporation v. Commissioner.

United States Tax Court.

Filed June 21, 1971.

Attorney(s) appearing for the Case

Fritz Lyne, 1400 Adolphus Tower, Dallas, Tex., and Ira Lee Allen, for the petitioner. Richard K. Seltzer, for the respondent.

Memorandum Findings of Fact and Opinion

STERRETT, Judge:

Respondent determined a deficiency of $143,701.35 in petitioner's income tax for the fiscal year ending October 31, 1964. The question before the Court is whether a sale of land by petitioner in 1964 qualifies for installment method of reporting income under section 453(b).1

Findings of Fact

All of the facts were stipulated. The stipulation and exhibits...

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