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COON AUTO CO. v. COMMISSIONER OF INTERNAL REVENUE

No. 8155.

35 F.2d 504 (1929)

COON AUTO CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Eighth Circuit.

October 7, 1929.

Attorney(s) appearing for the Case

Joe H. Kirby, of Sioux Falls, S. D. (Kirby, Kirby & Kirby, of Sioux Falls, S. D., on the brief), for appellant.

A. H. Pierce, Sp. Atty., Bureau of Internal Revenue, of Washington, D. C. (Mabel Walker Willebrandt, Asst. Atty. Gen., J. Louis Monarch and Millar E. McGilchrist, Sp. Asst. Attys. Gen., and C. M. Charest, Gen. Counsel, Bureau of Internal Revenue, of Washington, D. C., on the brief), for appellee.

Before KENYON and VAN VALKENBURGH, Circuit Judges, and OTIS, District Judge.

KENYON, Circuit Judge.

This is an appeal from a decision of the United States Board of Tax Appeals. Appellant, a corporation, was engaged in the automobile sales business. On January 13, 1919, its board of directors directed an arbitrary "write-off" of the book inventory as of December 31, 1918, amounting to $9,234.07. In the audit of petitioner's return for 1919, the Commissioner of Internal Revenue added to the net income returned the amount of this reduction, resulting...

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