American Pitch Pine Export Co., Inc. v. Commissioner of Internal Revenue

BORAH, Circuit Judge.

This petition for review involves an alleged deficiency in income tax for the fiscal years ending October 31, 1941, and October 31, 1942, declared value excess profits tax for the fiscal year ending October 31, 1942, and excess profits tax for the fiscal years ending October 31, 1942, and October 31, 1943. Two questions are presented: (1) Whether under the applicable provisions of the Internal Revenue Code 1 the Tax Court’s findings of reasonable allowances for compensation for personal services rendered by eight of taxpayer’s officers and employees for the years…