¶2We think that the contention of the taxpayer is correct in that there would be no realized gain in the repossession of the property by the taxpayer until such time as the property might be disposed of. Appeal of Manomet Cranberry Co., 1 B. T. A. 706.
2 B.T.A. 359
Davis v. Commissioner
United States Board of Tax Appeals
Decided July 14, 1925
United States Board of Tax Appeals · decided 1925-07-14
Cited by 4 later decisions — most recently June 1938
1 federal appellate ·
Relies on Manomet Cranberry Co. v. Commissioner
Good law ✅— No negative treatment on recordhow we know
Decided 1925-07-14
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