Appeal of Drake

Board of Tax Appeals

Appeal of Drake

1 B.T.A. 1235

United States Board of Tax Appeals·Decided May 26, 1925·No. Docket No. 481·Published·Cited by 1 cases

Opinion

[1237] OPINION.

Morris:

The Board is of the opinion that Drake & Company was a partnership for the years in question. As the taxpayer kept no individual books the computation of his tax by the Commissioner on the calendar-year basis was proper under section 212 (b) of the Revenue Act of 1918, which provides, inter alia, that if the taxpayer has no annual accounting period or does not keep books his net income shall be computed on the basis of the calendar year.

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[1237] OPINION.

Morris:

The Board is of the opinion that Drake & Company was a partnership for the years in question. As the taxpayer kept no individual books the computation of his tax by the Commissioner on the calendar-year basis was proper under section 212 (b) of the Revenue Act of 1918, which provides, inter alia, that if the taxpayer has no annual accounting period or does not keep books his net income shall be computed on the basis of the calendar year.

Appeal of Drake, 1 B.T.A. 1235 (bta 1925).

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