State Mutual Life Assurance Company of Worcester v. Commissioner of Internal Revenue

HARTIGAN, Circuit Judge.

This is a petition brought by State Mutual Life Assurance Company of Worcester for review of a decision of the Tax Court of the United States, entered December 19, 1956, determining a deficiency in its income tax in the sum of $1,970.67 for the year 1950.

The facts, which have been stipulated by the parties, are as follows:

Petitioner, a mutual life insurance company incorporated under the laws of the Commonwealth of Massachusetts, owns its home office property in Worcester, Massachusetts, consisting of a nine-story office building and annex thereto and nearby parking…