Case Name: In the Matter of John Alsheimer, Individually and as General Guardian of John A. Alsheimer, an Infant, Respondent. Kebax Holding Corporation, Appellant
Court: New York Supreme Court, Appellate Division
Jurisdiction: New York
Decision Date: 1943-01-25
Citations: 265 A.D. 1012
Docket Number: 
Parties: In the Matter of John Alsheimer, Individually and as General Guardian of John A. Alsheimer, an Infant, Respondent. Kebax Holding Corporation, Appellant.
Judges: 
Reporter: Appellate Division Reports
Volume: 265
Pages: 1012–1013

Head Matter:
In the Matter of John Alsheimer, Individually and as General Guardian of John A. Alsheimer, an Infant, Respondent. Kebax Holding Corporation, Appellant.

Opinion:
Under the facts in this case the owner is entitled to avail itself of income and expenses based on an accrual basis, but this does not mean that upon such a basis it can include as an accrual expense for a single year the accumulated unpaid interest which it had paid on the mortgage, which interest payments covered a period of some seven years prior to the accounting period. Close, P. J., Hagarty, Carswell, Taylor and Lewis, JJ., concur.