Auerbach Shoe Company v. Commissioner of Internal Revenue

WOODBURY, Circuit Judge.

This is a petition for review of a decision of the Tax Court of the United States affirming an assessment by the Commissioner of Internal Revenue of 50% fraud penalties computed on deficiencies in the petitioner-taxpayer’s excess profits taxes for its fiscal years ending October 31, 1944, and October 31, 1945, and on a deficiency in its disclosed value excess profits tax for the later year. The stipulated facts as found by the Tax Court can be briefly stated.

The taxpayer is a Massachusetts corporation which at the times involved was-engaged in the business of…