SPENCER, WHITE & PRENTIS, INC. v. COMMISSIONER

Docket No. 108431.

2 T.C.M. 320 (1943)

Spencer, White & Prentis, Inc. v. Commissioner.

United States Tax Court.

Entered June 21, 1943.


Attorney(s) appearing for the Case

Edgar A. B. Spencer, Esq., 60 E. 42nd St., New York City, and Thomas P. Morrissey, Esq., for the petitioner. Thomas H. Lewis, Jr., Esq., and Patrick J. Cavanaugh, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

OPPER, Judge:

Petitioner in this proceeding challenges respondent's determination of income and excess-profits tax deficiencies in the amounts of $71,828.41 and $34,049.38, respectively, for the fiscal year July 1, 1937, to June 30, 1938. The question involved is whether petitioner may deduct as incurred or accrued expenses the sum of $327,500.00 for work or services to be performed subsequent to the tax year in issue...

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