 | United States. Internal Revenue Service - 1979 - 644 pages
...370* dollars. LAW AND ANALYSIS Section 453 (a) (1) of the Code provides that a person who sells or disposes of personal property on the installment plan...payments actually received in that year which the gross profit, realized or to be realized when the payment is completed, bears to the total contract... | |
 | United States. Tax Court - 1951 - 1074 pages
...regulations prescribed by tbe Commissioner with the approval of tbe Secretary, a person who regularly sella or otherwise disposes of personal property on the...Installment payments actually received In that year whlcb the cross profit realized or to be realized when payment Is completed, bears to tbe total contract... | |
 | United States. Internal Revenue Service - 1972 - 624 pages
...Code provides that, under regulations prescribed by the Secretary of the Treasury or his delegate, a person who regularly sells or otherwise disposes...taxable year that proportion of the installment payments received in that year which the gross profit, realized or to be realized when payment is completed,... | |
 | United States. Tax Court - 1956 - 1226 pages
...44. INSTALLMENT BASIS. (•) DEALERS IN PERSONAL PROPERTY. — Under regulations prescribed by the Commissioner with the approval of the Secretary, a...Installment plan may return as Income therefrom In any Unable year that proportion of the Installment payments actually received In that year whlcb the gross... | |
 | United States. Internal Revenue Service - 1979 - 664 pages
...installment payment. LAW AND ANALYSIS Section 453 (a) of the Code provides that a person who regularly sells personal property on the installment plan may return...payments actually received in that year which the "gross profit, realized or to be realized" when payment is completed, bears to the "total contract... | |
 | United States. Tax Court - 1961 - 1354 pages
...of real property on installment plan. • * * the vendor may return as Income from such transactions in any taxable year that proportion of the installment...the total profit realized or to be realized when the property is paid for bears to the total contract price. It is to be observed that neither the statute... | |
 | United States. Internal Revenue Service - 1978 - 630 pages
...amended return attempting to revoke the election. Section 453 (a) of the Code provides, in part, that a person who regularly sells or otherwise disposes...may return as income therefrom in any taxable year a proportion of the installment payments actually received in each year. Section 453 (b) of the Code... | |
 | United States. Tax Court - 1971 - 1476 pages
...PERSONAL PHOPBETT.— (1) IN GENERAL.—Under regulations prescribed by the Secretary or big delegate, a person who regularly sells or otherwise disposes...personal property on the Installment plan may return us Income therefrom In any taxable year tbat proportion of the Installment payments actually received... | |
 | United States. Internal Revenue Service - 1973
...the job site. Section 453 (a) (1) of the Code and the regulations thereunder, provide, in part, that a person who regularly sells or otherwise disposes of personal property on the installment plan may elect to return as income therefrom in any taxable year that proportion of the installment payments... | |
 | United States. Tax Court - 1964 - 992 pages
...of realization. Section 453, 1.RC 1954, provides in part as follows : SEC. 453. INSTALLMENT METHOD. any taxable year that proportion of the installment...payments actually received in that year which the gross profit, realized or to be realized when payment Is completed, bears to the total contract price.... | |
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Secretary, a person who regularly sells or otherwise disposes of personal property on the installment plan may return as income therefrom in any taxable year that proportion of the installment payments actually received in that year which the gross profit... 
