Carmichael Tile Co. v. Commissioner

Carmichael Tile Company v. Commissioner.

Carmichael Tile Co. v. Commissioner

Docket No. 22858.

United States Tax Court

1950 Tax Ct. Memo LEXIS 210; 9 T.C.M. (CCH) 351; T.C.M. (RIA) 50106;

April 21, 1950

Herman Heyman, Esq., for the petitioner. Edward L. Potter, Esq., for the respondent.

LEMIRE

Memorandum Findings of Fact and Opinion

This proceeding involves deficiencies in federal taxes and penalties for 1945 as follows:

5%

negligence

5% delinquency

Kind of tax

Deficiency

penalty

penalty

Income

$2,713.64

$135.68

$ 678.41

Declared value excess-profits

2,785.35

139.27

696.34

Excess profits

7,818.93

390.95

1,954.73

The…