Monroe Sand & Gravel Co. v. Commissioner
United States Board of Tax Appeals
1. Where certain credits as compensation were given its officers by a corporation reporting on the accrual basis and such credits were allowed by respondent as a deduction, and respondent in his answer affirmatively pleaded that the deduction so allowed "does not constitute an allowable deduction," and the record fails to establish that the amounts so credited as compensation were unreasonable, held, respondent failed to maintain his burden of proof. 2. Where certain credits…
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1. Where certain credits as compensation were given its officers by a corporation reporting on the accrual basis and such credits were allowed by respondent as a deduction, and respondent in his answer affirmatively pleaded that the deduction so allowed "does not constitute an allowable deduction," and the record fails to establish that the amounts so credited as compensation were unreasonable, held, respondent failed to maintain his burden of proof. 2. Where certain credits were given two parties by the taxpayer reporting on the accrual basis and such credits were allowed by respondent as a…
1Opinion of the Court
OPINION.
Tyson :
The respondent has asserted income tax deficiencies in the amounts of $1,666.77 and $5,620.32 for the calendar years 1930 and 1931, respectively. Petitioner assigns the following errors:
For the year 1929, the respondent’s failure to allow deductions of $11,530 as bad debts, $4,736.63 as depletion or amortization of the cost of leases, and $2,022.22 as commissions, for the purpose of determining the amount of petitioner’s net loss to be carried over to the taxable year 1930.
*748For the. year 1930, the respondent’s failure to allow a deduction of the 1929 net loss predicated upon…
2Cited by7 opinions
- T.J. ENTERPRISES v. COMMISSIONER OF INTERNAL REVENUEUnited States Tax Court · 1993
- Buffalo Eagle Mines, Inc. v. CommissionerUnited States Board of Tax Appeals · 1938
- Central Asphalt Paving Co. v. CommissionerUnited States Tax Court · 1968
- Martell Builders, Inc. v. CommissionerUnited States Tax Court · 1964
- Monroe Sand & Gravel Co. v. CommissionerUnited States Board of Tax Appeals · 1937
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