Surtronics, Inc. v. Commissioner
United States Tax Court
Petitioner electroplated switches and other component parts for manufacturers of electronic equipment, such as radios, televisions, and computers. Most of the electroplating was done with gold and silver, but occasionally non-precious metals were used. Accurate inventories of the metals used in the electroplating process were maintained, but for income tax purposes petitioner only used the inventories to determine the cost of goods sold.
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Petitioner electroplated switches and other component parts for manufacturers of electronic equipment, such as radios, televisions, and computers. Most of the electroplating was done with gold and silver, but occasionally non-precious metals were used. Accurate inventories of the metals used in the electroplating process were maintained, but for income tax purposes petitioner only used the inventories to determine the cost of goods sold. All other items of income and expense were reported on petitioner's books and on its tax returns on the cash basis. Respondent determined that petitioner's…
1Opinion of the Court
SURTRONICS, INC., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Surtronics, Inc. v. Commissioner
Docket No. 25389-82.
United States Tax Court
T.C. Memo 1985-277; 1985 Tax Ct. Memo LEXIS 353; 50 T.C.M. (CCH) 99; T.C.M. (RIA) 85277;
June 11, 1985.
Petitioner electroplated switches and other component parts for manufacturers of electronic equipment, such as radios, televisions, and computers. Most of the electroplating was done with gold and silver, but occasionally non-precious metals were used. Accurate inventories of the metals used in the electroplating process were maintained, but…
2Cases cited18 opinions
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- Commissioner v. HansenSupreme Court of the United States · 1959
- Lucas v. Kansas City Structural Steel Co.Supreme Court of the United States · 1930
- Niles Bement Pond Co. v. United StatesSupreme Court of the United States · 1930
- Caldwell v. Commissioner of Internal Revenue. Commissioner of Internal Revenue v. CaldwellCourt of Appeals for the Second Circuit · 1953
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