BARNET S. MILMAN, INC. v. COMMISSIONER OF INT. REV.

No. 80.

114 F.2d 95 (1940)

BARNET S. MILMAN, Inc., v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

July 25, 1940.


Attorney(s) appearing for the Case

Harold Rogers Lhowe, of New York City (Morton Milman and Emanuel E. Sternfield, both of New York City, of counsel), for petitioner Barnet S. Milman, Inc.

Samuel O. Clark, Jr., Asst. Atty. Gen. (Sewall Key, Norman D. Keller, and S. Dee Hanson, Sp. Assts. to the Atty. Gen., of counsel), for respondent Commissioner of Internal Revenue.

Before L. HAND, AUGUSTUS N. HAND, and CHASE, Circuit Judges.


AUGUSTUS N. HAND, Circuit Judge.

This is an appeal from an order of the Board of Tax Appeals determining deficiencies in income and excess profits taxes of Barnet S. Milman, Inc., for the fiscal year ended July 31, 1933, and certain penalties thereon.

The taxpayer Barnet Milman, Inc., was organized in July, 1932, by Barnet S. Milman and all of its capital stock was issued to him on August 1, 1932, in exchange for certain...

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