NATIONAL MILL SUPPLY CO. v. COMMISSIONER OF INTERNAL REVENUE

No. 4812.

62 F.2d 420 (1933)

NATIONAL MILL SUPPLY CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Seventh Circuit.

January 5, 1933.


Attorney(s) appearing for the Case

Jacob S. Seidman, of New York City, for petitioner.

G. A. Youngquist, Asst. Atty. Gen., Sewall Key and J. Louis Monarch, Sp. Assts. to Atty. Gen. (C. M. Charest, Gen. Counsel, Bureau of Internal Revenue, of Washington, D. C., and John D. Kiley, Sp. Atty., Bureau of Internal Revenue, of Washington, D. C., of counsel), for respondent.

Before ALSCHULER and EVANS, Circuit Judges, and WILKERSON, District Judge.


EVANS, Circuit Judge.

Petitioner, an Indiana corporation engaged in the wholesale and retail milling, plumbing, electrical, and automobile supply business, complains of the Board of Tax Appeals' determination of its 1923 income tax. Its criticism is directed to the Board's alleged erroneous inclusion of $90,000 in its income. It attributes the mistake to faulty bookkeeping by which an omission of $103,000 in inventory was concealed for seven years.

The facts...

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