A deficiency of $2,923.10 was determined in petitioner's income tax for 1938. Of several items of adjustment, petitioner assails the disallowance of deductions taken as ordinary and necessary business expenses.
FINDINGS OF FACT.
Petitioner, a Delaware corporation with principal office at Watkins Glen, New York, filed its income tax return for 1938 with the collector for the twenty-first district of New York.
On June 22, 1921, petitioner acquired...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
