Coca Cola Bottling Co. v. Commissioner

GARDNER, Circuit Judge.

This matter is before us on petition to review a decision of the United States Board of Tax Appeals which sustained a surtax of $5,659.99, determined by the Commissioner, on the undistributed profits of petitioner for 1936. The Commissioner disallowed deductions amounting to $42,-780.27 claimed on petitioner’s income and excess profit tax return for 1936, “because not computed in accordance with the provisions of Section 26(c)(1) of the Revenue Act of 1936, 26 U.S.C.A. Int.Rev.Acts, page 836, and because the contract on which it was based was not such as complied with…