Bessemer Inv. Co. v. Commissioner of Internal Revenue

MANTON, Circuit judge.

This appeal, taken pursuant to section 1001 (a) of the Revenue Act of 1926 (44 Stat. 109 [26 USCA § 1224a]) brings into question the determination of the Commissioner of Internal Revenue in fixing the income tax of the petitioner, a New Jersey corporation, for the taxable years 1918-1919. Petitioner, with other corporations, filed a consolidated return, and the Commissioner determined a deficiency of $11,-281.92 for 1918 and $29,124.55 for 1919. The Henry Phipps Estate, a New York corporation, whieh filed its consolidated return with the petitioner on December 1,1919,…