GRONER, Associate Justice.
Petitioner is a Minnesota corporation. It was in process of liquidation and in 1926 sold all of its remaining assets for a little less than $600,000. The cash received did not exceed one-fourth of the total purchase price. It therefore elected to report the income from the transaction on the installment basis, and this was accepted by the Commissioner.
The applicable statute is section 212 (d) of the Revenue Act of 1926 (44 Stat...
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