In re Lorimier, Greenbaum Co.

Hinman, J.:

The petitioner complains of the deduction by the Commission of the sum of $62,000 from the $187,085.60 reported by the petitioner as the sum paid for salaries to its four general officers. Upon the filing of the petitioner’s report, the Commission determined therefrom and presumably from such other information and data as it had in its possession that these salaries, to the extent of $62,000, did not constitute a reasonable allowance therefor as an ordinary and necessary expense incurred in carrying on the business, but a "diversion of profits under the guise of salaries and that,…