1.453-10—Effective date.
(a)
Except as provided in this section, the provisions of section 453 and §§ 1.453-1 through 1.453-9 shall apply to taxable years beginning after December 31, 1953, and ending after August 16, 1954.
(b)
The provisions of paragraphs (a) (2) and (3), (b), and (c) of § 1.453-8 shall apply to taxable years ending after December 17, 1958.
(c)
Under the provisions of sections 453(b) and 7851(a)(1)(C), section 453(b)(1) and the regulations with respect thereto shall also apply—
(1)
To a sale or other disposition during a taxable year beginning before January 1, 1954, only if the income was returnable (by reason of section 44(b) of the Internal Revenue Code of 1939) on the basis and in the manner prescribed in section 44(a) of such code.
(2)
To a sale or other disposition during a taxable year beginning after December 31, 1953, and ending before August 17, 1954, though such taxable year is subject to the provisions of the Internal Revenue Code of 1939.
(d)
Under the provisions of sections 453(c)(1)(B) and 7851(a)(1)(C) section 453(c) and the regulations with respect thereto shall also apply to taxable years beginning after December 31, 1953, and ending before August 17, 1954, though such taxable years are subject to the provisions of the Internal Revenue Code of 1939.
(e)
The provisions of paragraph (b)(3) of § 1.453-6 shall apply to repossessions occurring after December 18, 1958.
(f)
The provisions of section 453(d)(5) and paragraph (g) of § 1.453-9 shall apply to taxable years ending after December 31, 1957, but only as to transfers or other dispositions of installment obligations occurring after such date.