ACCURATE WATCH & JEWELRY CO., INC. v. COMMISSIONER

Docket No. 111248.

1 T.C.M. 843 (1943)

Accurate Watch & Jewelry Co., Inc. v. Commissioner.

United States Tax Court.

Entered March 30, 1943.


Attorney(s) appearing for the Case

Harry R. Baker, C. P. A., 77 River St., Hoboken, N. J., for the petitioner. John W. Edwards, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

LEECH, Judge:

Respondent determined deficiencies in income and excess-profits taxes against the petitioner for the fiscal year ending July 31, 1940, as follows:

  Income tax ...............    $1,611.81
  Excess profits tax .......     1,832.28

The petitioner has attacked this determination on several grounds. The only issue submitted is whether the respondent was right in disallowing an asserted...

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