Dunn Mfg. Co. v. Commissioner
United States Board of Tax Appeals
1. Reduction of closing inventory taken by the petitioner in computing net income for the year 1920 on account of certain goods claimed to have been obsolete at the close of that year, disallowed. 2. The petitioner is entitled to have its profits-tax liability for the year 1920 computed under section 328 of the Revenue Act of 1918.
1Opinion of the Court
DUNN MANUFACTURING CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Dunn Mfg. Co. v. Commissioner
Docket No. 15815.
United States Board of Tax Appeals
14 B.T.A. 225; 1928 BTA LEXIS 2998;
November 15, 1928, Promulgated
1. Reduction of closing inventory taken by the petitioner in computing net income for the year 1920 on account of certain goods claimed to have been obsolete at the close of that year, disallowed.
2. The petitioner is entitled to have its profits-tax liability for the year 1920 computed under section 328 of the Revenue Act of 1918.
A. Calder Mackay, Esq., for the…
2Cases cited1 opinion
- Dunn Mfg. Co. v. CommissionerUnited States Board of Tax Appeals · 1928