F. S. Harmon Mfg. Co. v. Commissioner

F. S. Harmon Manufacturing Company, Petitioner, v. Commissioner of Internal Revenue, Respondent

F. S. Harmon Mfg. Co. v. Commissioner

Docket No. 65334

United States Tax Court

34 T.C. 316; 1960 U.S. Tax Ct. LEXIS 147;

May 25, 1960, Filed

Decision will be entered under Rule 50.

Approval of Commissioner required to change from "quantity" basis to "dollar-value" basis for valuing inventories under Lifo.

E. N. Eisenhower, Esq., and George M. Hartung, Jr., Esq., for the petitioner.

George E. Constable, Esq., for the respondent.

Drennen, Judge.

DRENNEN

Respondent determined an income tax deficiency against…