VIRGINIA LOAN & THRIFT CORPORATION v. COMMISSIONER

Docket Nos. 109821, 109822.

2 T.C.M. 27 (1943)

Virginia Loan & Thrift Corporation v. Commissioner.

United States Tax Court.

Entered May 10, 1943.


Attorney(s) appearing for the Case

Robert J. Heberle, Esq., State-Planters Bank Bldg., Richmond, Va., for the petitioner. E. M. Woolf, Esq., for the respondent.


Memorandum Opinion

TURNER, Judge:

The respondent has determined deficiencies in personal holding company surtax and penalties against the petitioner as follows:

  Docket
    No.     Year      Surtax     Penalty

  109821    1935    $  341.56    $ 85.39
  109822    1938       569.54     142.39
  109822    1939     1,657.44     414.36
  109822    1940     1,428.23     357.06

The questions presented are (1) whether 80 per cent...

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