Chas. Schaefer & Son, Inc. v. Commissioner
United States Tax Court
1. Interest for prior years on cumulative debentures previously unpaid but eventually payable held not deductible by accrual basis taxpayer in subsequent years when payment made. 2. Failure to file excess profits tax return held not due to reasonable cause.
1Opinion of the Court
Chas. Schaefer & Son, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Chas. Schaefer & Son, Inc. v. Commissioner
Docket No. 37874
United States Tax Court
20 T.C. 558; 1953 U.S. Tax Ct. LEXIS 132;
May 29, 1953, Promulgated
Decision will be entered for the respondent.
1. Interest for prior years on cumulative debentures previously unpaid but eventually payable held not deductible by accrual basis taxpayer in subsequent years when payment made.
2. Failure to file excess profits tax return held not due to reasonable cause.
Martin M. Lore, Esq., for the petitioner.
John J. Hopkins, Esq.,…
2Cases cited1 opinion
- Chas. Schaefer & Son, Inc. v. CommissionerUnited States Tax Court · 1953