Case Name: Appeal of I. M. DAVIS
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1925-07-14
Citations: 2 B.T.A. 359
Docket Number: Docket No. 2616
Parties: Appeal of I. M. DAVIS.
Judges: Before GeatjpneR, Tkammell, and Phillips.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 2
Pages: 359–360

Head Matter:
Appeal of I. M. DAVIS.
Docket No. 2616.
Submitted June 2, 1925.
Decided July 14, 1925.
Leslie J. Aker, Esq., for the taxpayer.
A. Oalder Mctekay, Esq., for the Commissioner.
Before GeatjpneR, Tkammell, and Phillips.

Opinion:
OPINION.
Graupner:
We think that the contention of the taxpayer is correct in that there would be no realized gain in the repossession of the property by the taxpayer until such time as the property might be disposed of. Appeal of Manomet Cranberry Co., 1 B. T. A. 706.