THE NATIONAL POWER MACHINERY COMPANY v. COMMISSIONER

Docket No. 3285.

3 T.C.M. 934 (1944)

The National Power Machinery Company v. Commissioner.

United States Tax Court.

Entered September 14, 1944.


Attorney(s) appearing for the Case

Henry S. Gottfried, Esq., 1114 Hippodrome Bldg., Cleveland, O., for the petitioner. Thomas F. Callahan, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

HILL, Judge:

This proceeding is for the redetermination of deficiencies for the year 1941 as follows: Income tax, $10,330.98, declared value excess profits tax, $6,134.78, and excess profits tax, $32,443.92. The sole issue is whether or not the respondent erred in disallowing certain amounts paid the petitioner's two principal officers as compensation for their services during 1941. Other adjustments to petitioner...

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