Lando Products, Inc. v. Commissioner

Lando Products, Inc., a corporation v. Commissioner.

Lando Products, Inc. v. Commissioner

Docket No. 61311.

United States Tax Court

T.C. Memo 1958-122; 1958 Tax Ct. Memo LEXIS 106; 17 T.C.M. (CCH) 652; T.C.M. (RIA) 58122;

June 27, 1958

Paul E. Anderson, Esq., for the petitioner. Edward H. Boyle, Esq., for the respondent.

LEMIRE

Memorandum Findings of Fact and Opinion

This proceeding involves a deficiency in income tax of petitioner for the fiscal year ended July 31, 1951, in the amount of $36,193.25.

The issue presented is whether the sum of $91,962.62 paid or credited by petitioner to its president,…