Cliff Motor Corp. v. Commissioner
Cliff Motor Corp. v. Commissioner
18 T.C.M. 635; 1959 Tax Ct. Memo LEXIS 103; 1959 T.C. Memo. 144
Opinion
Cliff Motor Corporation v. Commissioner.
Cliff Motor Corp. v. Commissioner
Docket No. 63564.
T.C. Memo 1959-144; 1959 Tax Ct. Memo LEXIS 103; 18 T.C.M. (CCH) 635; T.C.M. (RIA) 59144;
*103 Herbert L. Zuckerman, Esq., for the petitioner. Arthur Pelikow, Esq., for the respondent.
OPPER
Memorandum Opinion
OPPER, Judge: Respondent determined a deficiency of $5,292.78 in petitioner's income tax for the year 1954.
The sole issue is whether amounts which financial institutions, discounting petitioner's paper, credited during the year in issue on their books to the reserve accounts of petitioner, an automobile dealer on an accrual basis of accounting, are taxable in that year.
All of the facts are stipulated and are found accordingly.
This case is concededly indistinguishable from , affirming , which has now been decided by the United States Supreme Court, - U.S. - (June 22, 1959). On the authority thereof,
Decision will be entered for the respondent.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.