Stimpson Computing Scale Co. v. Lucas

DAWSON, District Judge.

The plaintiff, Stimpson Computing Scale Company, was organized as a corporation under the laws of Kentucky on March 31,1919, and has been engaged in business since that date. It adopted the calendar year as its fiscal year, and, of course, for income tax purposes its taxable year was and is the calendar year. Por the nine months extending from March 31, 1919, the date of its organization, to December 31, 1919‘, the corporation sustained in its business a net loss of $33,949.-81. In April, 1921, it filed its income tax report for the calendar year 1920. This report…