A. Finkenberg's Sons, Inc. v. Commissioner
United States Tax Court
1. Because of an ambiguity in the deficiency notice statement of the nature of the disallowance, petitioner contends that a questioned deduction is not properly before the Court.
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1. Because of an ambiguity in the deficiency notice statement of the nature of the disallowance, petitioner contends that a questioned deduction is not properly before the Court. Held, the issue was raised because the only ambiguity was in the explanation of the deduction, and the taxpayer had reasonable notice, examined the issue and was not prejudiced. 2. Petitioner, an installment dealer, deducted in 1944 expenses of $ 22,780.30, which were disallowed because they were incurred in prior years in connection with a promotional campaign. Held, the petitioner was not entitled to a deduction in…
1Opinion of the Court
OPINION.
Black, Judge:
Three issues are presented in this proceeding.
Issue 1.
On the principal issue the respondent contests the petitioner’s tax treatment of the thrift club plan on the following two alternative grounds: The deduction of $22,780.30 “Cost of Thrift Sales” as an ordinary and necessary business expense of 1944 was improper since it should have been deducted in prior years, or the transfer during taxable year of the $22,780.30 credit balance of “Thrift Accounts Receivable” directly to surplus should have been included as taxable income. Petitioner argues that the expenses were…
2Cases cited8 opinions
- Commissioner of Internal Revenue v. StewartCourt of Appeals for the Sixth Circuit · 1951
- Standard Oil Co. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1942
- X-Pando Corp. v. CommissionerUnited States Tax Court · 1946
- Hay v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1944
- Helvering v. Continental Oil Co.Court of Appeals for the D.C. Circuit · 1933
3 more not listed; retrieve them via the Exa API.
3Cited by38 opinions
- Malinowski v. CommissionerUnited States Tax Court · 1979
- Dean v. CommissionerUnited States Tax Court · 1971
- Consolidated Apparel Co. v. CommissionerUnited States Tax Court · 1952
- E. H. Sheldon & Co. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1954
- Perry v. CommissionerUnited States Tax Court · 1954
33 more not listed; retrieve them via the Exa API.