Fifth and York Company v. United States

BROOKS, Chief Judge.

Plaintiff seeks to recover for additional taxes it paid subsequent to determination by the Commissioner of Internal Revenue of a deficiency in its income tax liability resulting from the Commissioner’s finding that plaintiff had erroneously omitted from its 1954 taxable income one-half of its gross profits attributable to certain sales made in that year.

In 1954, the plaintiff was engaged in the retail sale of automobiles, keeping its accounts and records on the accrual method of accounting. In addition to its regular sales, in 1954 plaintiff also made 96 “Two-for-One”…