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ENTENMAN TIMBER CO. v. COMMISSIONER

Docket No. 2192.

4 T.C.M. 25 (1945)

Entenman Timber Co. v. Commissioner.

United States Tax Court.

Entered January 10, 1945.

Attorney(s) appearing for the Case

Braxton C. Wallace, C. P. A., Textile Bldg., Greenwood, S. C., for the petitioner. Bernard D. Hathcock, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

TURNER, Judge:

The respondent has determined deficiencies in the petitioner's income and excess profits taxes for 1940 of $1,115.65 and $935.06, respectively. The only issue presented is the deductibility by petitioner of $7,000 paid by it in 1940 to its two stockholders as reimbursements to them of traveling and other expenses incurred by them in its behalf during the years 1925 through 1940.

Findings of...

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