EVANS, Circuit Judge.
This appeal involves the taxability of compensation received for services rendered to municipalities by an engineering corporation, reporting on the accrual basis, which compensation was in the form of vouchers payable out of the first installment of special assessments when collected. The 1926 taxes are $20,099.94, and the 1927 taxes are $20,227.51.
Petitioner contends: (I) This income is exempt because it is an instrumentality of the...
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