A taxpayer, by written contract, had agreed to sell a 99-year leasehold for $195,000. $50,000 was to be paid in 1920, and the balance in 1921. The first payment was made in October, 1920, and a deed put in escrow, to be handed to the grantee on payment of the balance. The transaction was fully carried out as per contract, and the taxpayer was assessed income tax on the entire $195,000 as of 1920. Held, the deed having been delivered in escrow, the title relates back to the original delivery on performance of the condition, showing a completed transaction in 1920, taxable as of that year. Comm. of Int. Rev. v. Moir, (C. C. A. 7th, 1930) 45 F.(2d) 356.