Archer v. Commissioner of Revenue

Clay, Commissioner

Affirming.

This is an appeal from a judgment of -the Franklin Circuit Court dismissing appellants’ petition for review of an order of the Kentucky Tax Commission. By virtue of this order appellants were assessed $677.50 additional income taxes for the year 1942.

Appellants filed a joint return, itemized on the accrual basis, for the calendar year 1942. It is claimed by the Department of Revenue that appellant, Henry Archer, failed to account for $5,000 salary income which had accrued to him during that year.

Appellants are stockholders and officers of the Lupino Realty Company,…