Cherokee Motor C. Co. v. Com'r of Internal Revenue

HAMILTON, Circuit Judge.

The Board of Tax Appeals (now the United States Tax Court) sustained respondent’s determination of a deficiency in income taxes of the corporate petitioner, the Cherokee Motor Coach Company, for the year 1935 in the sum of $3,968.17; of the individual petitioners, John Howry Levan and James Buford Levan for the same year in the sums of $1,518.36 and $2,-313.72 respectively. These are proceedings to review the decisions of the Board. The additional taxes grow out of income determined by respondent to have arisen out of the following transactions:

During the calendar year…