Central Paper Co. v. Commissioner

Central Paper Company, Incorporated v. Commissioner.

Central Paper Co. v. Commissioner

Docket No. 1829.

United States Tax Court

1945 Tax Ct. Memo LEXIS 217; 4 T.C.M. (CCH) 469; T.C.M. (RIA) 45161;

April 30, 1945

Wilbur A. Giffen, Esq., 110 S. LaSalle St., Chicago, Ill., for the petitioner. Lester M Ponder, Esq., for the respondent.

STERNHAGEN

The Commissioner determined deficiencies for the year ended June 30, 1940, of $7,886.24 in income taxes and $6,517.56 in declared value excess profits tax. Taxpayer assails the determination that income of $49,982.56 was realized upon the surrender by it of…