28465 43128 49236 Maurice E. Burr__ Continental and Commercial National Bank of Chicago. Mar. 11, 1933 Safety Electric Products Co.. 63049 Fox Brothers Co-- Mar. 11, 1933 Mar. 13, 1933 Mar. 15, 1933 Mar. 15, 1933 Mar. 15, 1933 Mar. 15, 1933 Mar. 15, 1933 Mar. 16, 1933 49656 Peabody Coal Co., Formerly Big Muddy Co... 53175 J. B. Rhodes.. 68899 Henry C. Yeiser and Wife.. 561791 Louise F. Yeiser... 64466 46999 Cullen Investment Co.... 61713 W. O. Horn and Brother, Inc.. Mar. 20, 1933 Mar. 20, 1933 Mar. 20, 1933 Mar. 20, 1933 Mar. 20, 1933 Mar. 21, 1933 Mar. 21, 1933 Mar. 22, 1933 32798 Iver Johnson's Arms and Cycle Works. Mar. 22, 1933 48106 Emerson E. Rossmoore_ Mar. 22, 1933 41615 Benjamin P. Walker. Mar. 22, 1933 47194 Florence I. Albright.. Mar. 23, 1933 56519 Conasauga River Lumber Co.- Mar. 23, 1933 34287 Express Trust, Known as Western Avenue Golf Club, 59424 Shearman Concrete Pipe Co., Transferee of Shearman of 36136 Mrs. I. Rabinovitz, Transferee of Lydia Oil Co. Mar. 31, 1933 44204 Kellogg Realty Co.. Apr. 1, 1933 41548 Westlake Public Market. Apr. 4, 1933 54525 E. S. Cowgill____ Apr. 10, 1933 39896 Estate of Clara de Choiseul, Charles W. Sutro, et al., Apr. 25, 1933 67024 Estate of Marie Louise Wight, Stephen P. Nash, Cus- 56988 Apr. 25, 1933 Columbia Steel Corporation 47489 Corbett Investment Co......... 61763 Apr. 26, 1933 Apr. 26, 1933 2 Reported in previous volume as Promulgated Decisions. 47458 Whitehead Metal Products Co., of New York, Inc.---49180 Apr. 27, 1933 57731 Lucille Urschel Morris, Trust No. 71, Toledo Trust Co., 51016 C. E. Slaten.... PROCEEDINGS DISMISSED OR OTHERWISE DISPOSED OF UPON REHEARING OR SUBSEQUENT TO PROMULGATED DECISION. 39061 Jewett and Co..--. 63122 Kansas City American Association Baseball Co-57780 Lucille M. Morris___ 57733 Elizabeth A. Urschel, Trust No. 70, Toledo Trust Co., Trustee. Apr. 28, 1933 57730 Estate of William L. Urschel, Toledo Trust Co., Executor. Apr. 28, 1933 57732 William L. Urschel, Trust No. 69, Toledo Trust Co., Trustee.. et al., Executors.. 51017 D. B. Crawford. 52350 Estate of Malcolm D. Whitman, Watson Washburn, Apr. 28, 1933 Apr. 28, 1933 51015 W. B. Crawford. 36074 Ferguson Co..... Apr. 29, 1933 Apr. 29, 1933 Apr. 29, 1933 Apr. 29, 1933 Nov. 8, 1932 Nov. 10, 1932 24197 Estate of Fernando P. Neal, Mary Neal Crutcher, et al., Executors... 34821 Estate of Thomas Burke, Seattle Title Trust Co., et al., Administrators.. Feb. 6, 1933 Docket No. Title. Date. 21808 Alabama By-Products Corporation, Birmingham Coke and By-Products Co., et al... 34708 Alpha Portland Cement Co., Transferee of Ironton Feb. 7, 1933 Portland Cement Co.. Feb. 10, 1933 La Salle Cement Co., By Alpha Portland Cement Co... Feb. 10, 1933 Feb. 13, 1933 Feb. 17, 1933 La Floridienne J. Buttgenbach and Co. Mar. 11, 1933 48152 Estate of W. T. Waggoner, W. T. Waggoner, Trustee... Mar. 13, 1933 46859 Estate of W. S. Forbes.. Mar. 22, 1933 Mar. 24, 1933 Mar. 28, 1933 Mar. 31, 1933 40381 J. E. Adams, Transferee of Dominguez Harbor Tract No. 2... Apr. 12, 1933 40491 J. A. Anderson, Transferee of Dominguez Harbor Tract 40517 J. H. Miller, Transferee of Dominguez Harbor Tract No. 2. Apr. 12, 1933 40380 G. F. Sloan, Transferee of Dominguez Harbor Tract 36059 Estate of Abner Lunsford... Estate of Louise P. V. Whitcomb, John Freuler, Adminis- Apr. 28, 1933 Apr. 28, 1933 INDEX. ABANDONMENT. See LOSSES, II, 1. ABATEMENT CLAIMS. See LIMITATIONS, I, 1. ACCOUNTING: I. Methods of Accounting: (1) Generally, p. 1429. (2) Accrual or Cash, p. 1429. II. Periods of Accounting, p. 1430. See CAPITAL; CARRIERS, 2, 3; COMPENSATION, II, 2, 3; DIVIDENDS, I, 7; Accrual or cash. See I (2), infra; CREDITS, I, INTEREST, 5, 7. Accrual or installment. See INSTALLMENT SALES, 1. Change of accounting period. See II, infra. Charging off bad debts. See BAD DEBTS, I, 3; II. Constructive receipt. See I, 10, 11, infra; COMPENSATION, II, 1; I. METHODS OF ACCOUNTING. (1) Generally. 1. Accounting for Income. Where method used by Commissioner results in an admittedly correct computation of net income, it will not be revised on account of a single item. Southern Ry. Co- 2. Id. His allocation of income over the years involved is approved where records to show error were not produced. Kizzie Gordon_-- 3. Id. Taxpayers were engaged in the business of marketing flags for street decoration through contracts with local organizations. Under terms of the contracts no sale occurred until delivery was made to purchaser and payment received by agent. Held, income should be accounted for by including in sales only shipments for which payment was received in tax year. Floyd L. Musgrove. 4. Change of Basis; Consent of Commissioner. Taxpayer may not change basis of reporting income without first obtaining permission from Commissioner to do so. Jerome R. George... (2) Accrual or Cash. 5. Accrual Basis. Bonus and Commissions based on percentage of profits, not determinable until after close of accounting period but charged on corporate books as of last day of the period, should be treated by recipient on accrual basis as income for year in which earned, rather than for year in which paid. Jerome R. George_ 6. Id. Commissioner's Error made in the course of transferring income improperly reported on return for one year to the proper return, admitted and corrected. Id. 7. Id. Taxpayer on accrual basis accepted demand promissory notes from stockholders in partial payment for stock, but neither received nor demanded payment of either principal or interest. Held, interest on the notes which accrued each year must be reported as income. Umpqua Timber Co--- 1429 Page 673 377 554 765 765 135 |