TEXAS TRAILERCOACH v. COMMISSIONER OF INTERNAL REV.

No. 16619.

251 F.2d 395 (1958)

TEXAS TRAILERCOACH, Inc., Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fifth Circuit.

January 7, 1958.


Attorney(s) appearing for the Case

Truxton Shaw, Wentworth T. Durant, Robert J. Hobby, Dallas, Tex., for petitioner.

Charles K. Rice, Asst. Atty. Gen., Ellis N. Slack, Lee A. Jackson, Robert N. Anderson, Carolyn R. Just, Attys., Dept. of Justice, Nelson P. Rose, chief counsel, Internal Revenue Service, John M. Morawski, Sp. Atty., Washington, D. C., for respondent.

Before CAMERON, JONES, and WISDOM, Circuit Judges.


WISDOM, Circuit Judge.

This case is before us on a petition to review a decision of the Tax Court. The petition raises the problem of determining the tax effect of a dealer's reserve account.

The taxpayer, Texas Trailercoach, Inc., a Texas corporation organized July 1, 1952, with its main place of business in Dallas, Texas, sells new and used trailers, and is a dealer for Spartan Aircraft Trailercoach, Inc. The corporation reports income on an accrual basis...

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