Case Name: Appeal of FRED R. DRAKE
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1925-05-26
Citations: 1 B.T.A. 1235
Docket Number: Docket No. 481
Parties: Appeal of FRED R. DRAKE.
Judges: Before Ivins, Marquette, and Morris.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 1
Pages: 1235–1237

Head Matter:
Appeal of FRED R. DRAKE.
Docket No. 481.
Submitted April 6, 1925;
decided May 26, 1925.
T. McKeen Ohidsey, Esq., for the taxpayer.
Willis D. Nanee, Esq., for the Commissioner.
Before Ivins, Marquette, and Morris.

Opinion:
OPINION.
Morris:
The Board is of the opinion that Drake & Company was a partnership for the years in question. As the taxpayer kept no individual books the computation of his tax by the Commissioner on the calendar-year basis was proper under section 212 (b) of the Revenue Act of 1918, which provides, inter alia, that if the taxpayer has no annual accounting period or does not keep books his net income shall be computed on the basis of the calendar year.