Finance & Inv. Corp. v. Commissioner

FINANCE & INVESTMENT CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

Finance & Inv. Corp. v. Commissioner

Docket No. 32216.

United States Board of Tax Appeals

19 B.T.A. 643; 1930 BTA LEXIS 2353;

April 22, 1930, Promulgated

William C. Sullivan, Esq., for the petitioner.

J. D. Kiley, Esq., for the respondent.

LANSDON

OPINION.

LANSDON: The respondent has asserted a deficiency in income tax for the year 1925 in the amount of $152.76. The only error pleaded by petitioner is that respondent has improperly disallowed as deductions from gross income certain amounts paid in the taxable…