ARKAY DRUG CO. v. COMMISSIONER

Dockets Nos. 1581 and 2055.

3 T.C.M. 1194 (1944)

Arkay Drug Co. and Merit Drug Co. v. Commissioner.

United States Tax Court.

Entered November 7, 1944.


Attorney(s) appearing for the Case

Charles Hockhauser, Esq., 152 W. 42nd St., New York, N. Y., for the petitioners, J. Richard Riggles, Jr., Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The Commissioner determined the following deficiencies in the income and excess-profits taxes of the petitioners for the fiscal years indicated:

                               Arkay Drug Co.

                                   Excess-Profits
  Fiscal yr. ended    Income Tax        Tax          Delinquency Pen.

  January 31, 1940    $1,064.06       $729.21
  January 31, 1941        87.02

             ...

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