Ambassador Hotel Company of Los Angeles, a Corporation v. Commissioner of Internal Revenue

MATHES, District Judge.

This is a taxpayer’s petition to review a decision of the Tax Court upholding the Commissioner’s determination of a deficiency. Ambassador Hotel Co. of Los Angeles v. Commissioner, 1959, 32 T.C. 208. The jurisdiction of this Court is invoked under 26 U.S.C. § 7482(a).

The facts are undisputed. Both income tax and excess profits tax were assessed to the taxpayer for its tax year ending January 31, 1944, the excess-profits tax assessment having been made pursuant to §§ 710 and 711 of the 1939 Internal Revenue Code. [26 U.S.C. §> 710 and 711 (1939), repealed by 59 Stat. 568…