Gray Printing Co. v. Commissioner
United States Board of Tax Appeals
1. Additional salaries of officers for 1919 disallowed. 2. A loss by fire fully compensated by insurance does not affect invested capital. 3. In the absence of any evidence, a penalty assessment must be approved.
1Opinion of the Court
APPEAL OF THE GRAY PRINTING CO.
Gray Printing Co. v. Commissioner
Docket No. 4503.
United States Board of Tax Appeals
4 B.T.A. 1264; 1926 BTA LEXIS 2028;
September 30, 1926, Decided
1. Additional salaries of officers for 1919 disallowed.
2. A loss by fire fully compensated by insurance does not affect invested capital.
3. In the absence of any evidence, a penalty assessment must be approved.
George M. Gray, for the petitioner.
George G. Witter, Esq., for the Commissioner.
LOVE
This is an appeal from the determination of deficiencies for the years 1919, 1920, and 1921, as follows:
1919
$3,276.02
1919, 25 per…
2Cases cited1 opinion
- Gray Printing Co. v. CommissionerUnited States Board of Tax Appeals · 1926