Schlosser Bros., Inc. v. Commissioner

This is an appeal from a determination by the Commissioner of a deficiency in income and profits taxes for the year 1917, amounting to less than $10,000, due to the exclusion by the Commissioner of $5,876.95 from the taxpayer’s invested capital, and the disallowance of a deduction to the extent of $1,575.

FINDINGS OP PACT.

The taxpayer! is an Indiana corporation. Until 1916 its books were so kept that it was impossible to determine from them the cost of the various items going into the taxpayer’s products. In April, 1916, it was decided to employ an accountant and systematizer to devise and…