In re Assessment of Taxes, Kash Co.

OPINION OP THE COURT BY

PERRY, J.

Tbe Hash Co., Ltd., a corporation owning and conducting a wholesale and retail (mainly retail) dry goods business, returned its stock of “goods, wares. and merchandise” at $36043.74. The assessor ascertained that these goods were carried on the books of the owner at an inventoried value of *477$45054.67 and assessed them at the latter figure. The Tax Appeal Court sustained the return. The Pacific Hardware Co., Ltd., engaged in the hardware and general merchandise business, returned its stock of “goods wares and merchandise” at $270363.41, which was raised by the…