Court of Appeals for the Second Circuit January 6, 1950, 21382_1 (Busch's Kredit Jewelry Co., Inc. v. Commissioner of Internal Revenue)

AUGUSTUS N. HAND, Circuit Judge.

The taxpayer, Busch’s Kredit Jewelry Co., Inc., which is a New York corporation engaged in the retail sale of jewelry and related merchandise, made virtually all of its sales on the installment credit plan. It computed its net income for income tax purposes on the installment basis under Section 44(a) of the Internal Revenue Code, 26 U.S.C.A. § 44(a).