American Dispenser Co. v. Commissioner

American Dispenser Co., Inc. v. Commissioner.

American Dispenser Co. v. Commissioner

Docket No. 555-66.

United States Tax Court

T.C. Memo 1967-153; 1967 Tax Ct. Memo LEXIS 107; 26 T.C.M. (CCH) 717; T.C.M. (RIA) 67153;

July 19, 1967

Morris W. Primoff, 41 E. 42nd St., New York, N. Y., for the petitioner. Lawrence J. Shongut, for the respondent.

MURDOCK

Memorandum Findings of Fact and Opinion

The Commissioner determined a deficiency of $8,450 in income tax of the petitioner for 1962. The petitioner alleges that the Commissioner erred in disallowing a deduction of $15,000 "representing a loss on the…