United States Board of Tax Appeals February 6, 1928, Docket Nos. 10074, 10075. (Montaldo v. Commissioner)

lead-opinion

*520OPINION.

Lansdon:

It should be stated at the outset that there is no question concerning the reporting of income by the installment method. The sole issue is that respondent has made inadequate deductions to cover the cost of goods sold; and this, the petitioners allege, arises out of his failure to include as a part of the cost of goods sold, for each of the years on appeal, the