Campbell v. Commissioner

Board of Tax Appeals

Campbell v. Commissioner

6 B.T.A. 60, 1927 BTA LEXIS 3612

CourtUnited States Board of Tax Appeals

DecidedFebruary 4, 1927

DocketDocket No. 18320.

StatusPublished

Cited by2 cases

This text of 6 B.T.A. 60 (Campbell v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Campbell v. Commissioner, 6 B.T.A. 60, 1927 BTA LEXIS 3612 (bta 1927).

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Opinion

[61]*61OPINION.

Littleton :

Petitioner consistently kept his books and rendered his returns upon the accrual basis. When the directors of the Glamorgan Pipe & Foundry Co., of which he was chairman, by appropriate resolution in December, 1922, declared the cash dividend, petitioner accrued his proportion thereof upon his books as income and reported the same in his income-tax return- for the year 1922. It is not claimed by the Commissioner and there is nothing to indicate that the method of accounting employed by petitioner in keeping his books of account, in accordance with which his return was filed, did not clearly reflect his income. We therefore approve the petitioner’s treatment of the dividend as income in 1922.

Judgment will be entered on 15 days' notice, wader Rule 50.

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[61]*61OPINION.

Littleton :

Petitioner consistently kept his books and rendered his returns upon the accrual basis. When the directors of the Glamorgan Pipe & Foundry Co., of which he was chairman, by appropriate resolution in December, 1922, declared the cash dividend, petitioner accrued his proportion thereof upon his books as income and reported the same in his income-tax return- for the year 1922. It is not claimed by the Commissioner and there is nothing to indicate that the method of accounting employed by petitioner in keeping his books of account, in accordance with which his return was filed, did not clearly reflect his income. We therefore approve the petitioner’s treatment of the dividend as income in 1922.

Judgment will be entered on 15 days' notice, wader Rule 50.

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6 B.T.A. 60, 1927 BTA LEXIS 3612, Counsel Stack Legal Research, https://law.counselstack.com/opinion/campbell-v-commissioner-bta-1927.

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