Advance Mach. Exch. v. Commissioner

Advance Machinery Exchange, Inc. v. Commissioner.

Advance Mach. Exch. v. Commissioner

Docket No. 15920.

United States Tax Court

1949 Tax Ct. Memo LEXIS 285; 8 T.C.M. (CCH) 84; T.C.M. (RIA) 49026;

January 25, 1949

Frank T. Kleiger, Esq., and James A. Ronayne, Esq., 120 Broadway, New York, N. Y., for the petitioner. T. R. Wickersham, Esq., for the respondent.

DISNEY

Memorandum Findings of Fact and Opinion

DISNEY, Judge: This case involves deficiencies in declared value excess profits tax and excess profits tax in the amounts of $1,346.24 and $40,539.31, respectively, for the year 1942.

The issues to be…