 | United States. Internal Revenue Service - 1981 - 808 pages
...provisions of section 453 do not apply to, dispositions of personal property on the installment plan by a person who regularly sells or otherwise disposes of personal property on the installment plan, or to dispositions of personal property of a kind which is required to be included in the inventory... | |
 | United States. Tax Court - 1954 - 1210 pages
...SEC. 44. INSTALLMENT BASIS. (a) DEALERS IN PERSONAL PROPERTY. — Under regulations prescribed by the Commissioner with the approval of the Secretary, a person who regularly sells or otherwise dlspoaei of personal property on the Installment plan may return as Income therefrom In any taiable... | |
 | United States. Tax Court - 1956 - 1170 pages
...section 44 (a) of the Internal Revenue Code of 1939.7 Generally, section 44 (a) provides that a vendor who "regularly sells or otherwise disposes of personal property" on the installment plan may report income on the installment basis under regulations promulgated by the Secretary. There is no... | |
 | United States. Internal Revenue Service - 1974
...property may elect to use an installment method of accounting. If he does, he must report as income "that proportion of the installment payments actually received in that year which the gross profit * * * to be realized * * * bears to the total contract price." Section 1. 453-2 (c)(l)... | |
 | 1970 - 426 pages
...personal property — (1) 1n general. Under regulations prescribed by the Secretary or his delegate, a person who regularly sells or otherwise disposes...any taxable year that proportion of the installment payment* actually received in that year which the gross profit. realized or to be realized when payment... | |
 | 1970 - 366 pages
...Secretary or his delegate, a person who regularly sells or otherwise disposes of personal property cm the Installment plan may return as Income therefrom In any taxable year that proportion oí the Installment payments actually received in that year which the gross profit. realized or to... | |
 | United States. Tax Court - 1987 - 1584 pages
...PERSONAL PROPERTY.— (1) IN GENERAL.— Under regulations prescribed by the Secretary or his delegate, a person who regularly sells or otherwise disposes...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.... | |
 | United States. Tax Court - 1988 - 1400 pages
...PERSONAL PROPERTY.— (1) IN GENERAL.— Under regulations prescribed by the Secretary or his delegate, a person who regularly sells or otherwise disposes...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.... | |
 | United States. Tax Court - 1979 - 1248 pages
...income in keeping his books. 5SEC. 453(a). DEALERS IN PERSONAL PROPERTY. (1) IN GENERAL.— • • • a person who regularly sells or otherwise disposes...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.... | |
 | United States. Tax Court - 1971 - 1470 pages
...PERSONAL PROPERTY. — (1) IN GENERAL. — Under regulations prescribed by the Secretary or bis delegate, a person who regularly sells or otherwise disposes...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... 
