Al Haft Sport Enterprises, Inc. v. Commissioner of Internal Revenue

HICKS, Chief Judge.

Petition by the A1 Haft Sport Enterprises, Inc., a corporation, to review a decision of the'Tax Court determining a deficiency in income tax for 1943, in the amount of $937.35; a deficiency in declared value excess profits tax for the same year in the amount of $861.24; and a deficiency in excess profits tax for the same year in the amount of $4,116.11, plus a penalty of $1,036.53. '

In 1943 A. C. Haft, Jr., known as A1 Haft, the Secretary-Treasurer and General Manager of petitioner, was paid a salary of $18,262.00. The Commissioner disallowed $8,262.00 of this salary and…