Acer Realty Co. v. Commissioner of Internal Revenue

THOMAS, Circuit Judge.

This case is presented here on a petition of the taxpayer to review a decision of the United States Board of Tax Appeals redetermining, and modifying and' confirming a deficiency in petitioner’s income taxes for the taxable years ended January 31, 1936, 1937, and 1938. The modifications made by the Board were favorable to the petitioner, and the Commissioner has not excepted. The opinion of the Board is reported in 45 B.T.A. 333.

The deficiency found by the Commissioner and in controversy here involves two items of the petitioner’s income tax returns for the taxable…