Morris Coal Co. v. Commissioner

This petition to review the order of the Board of Tax Appeals, fixing the petitioner’s income and profits taxes for the years 1919 and 1920, presents three questions:

1. In former years'petitioner charged to operating expenses items that should have been charged as capital investment. It sought to have these items restored to its invested capital. The commissioner refused, and on appeal the board affirmed. It appears beyond question that there should have been some such restoration; but the proof is too vague and uncertain to fix the amount. It was within the power of the petitioner to present…