NATIONAL GYPSUM COMPANY v. COMMISSIONER

Docket Nos. 107659, 108714.

1 T.C.M. 349 (1942)

National Gypsum Company v. Commissioner.

United States Tax Court.

Entered December 31, 1942.


Attorney(s) appearing for the Case

H. A. Mihills, C. P. A., 917 Munsey Bldg., Washington, D. C., for the petitioner. Z. N. Diamond, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The Commissioner determined income tax deficiencies of $2,300.09 for 1938 and $2,024.14 for 1939. Petitioner assails the depletion and depreciation bases of assets acquired by merger.

Findings of Fact

Petitioner, a Delaware corporation with principal office at Buffalo, New York, was organized in 1925, and is engaged in the manufacture of gypsum and kindred building products. Its income tax returns for 1938...

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