nonacq. 1974-2 C.B. 4
How later courts described this case
- nonacq. 1974-2 C.B. 4
Written by the judges who cited it.
The opinion
■ MuRDock, concurring: The result in this case would be right even assuming that the petitioner was in position to realize income from the gross amounts which it received from subscriptions because such income could be computed only upon a completed contract basis, the contract was not completed in the fiscal year 1946 and, therefore, the excess of receipts over expenditures for the 3-year period would not be income for the middle year.