United States Cartridge Co. v. United States

BOOTH, Chief Justice.

This case presents the determination, under the revenue laws and regulations of the Commissioner of Internal Revenue, of plaintiff’s tax liability for the year 1918.

The plaintiff is a Massachusetts corporation and during the late World War was engaged, in the manufacture of ammunition to be used both in this country and abroad. In making its tax return for the calendar year 1918 two contentions arose as to the proper valuation of its inventory for the year and the denial by the Commissioner of a deduction from gross income for the year of the cost of buildings erected…