HOLMES & SON, INC. v. COMMISSIONER

Docket No. 1143.

5 T.C. 417 (1945)

HOLMES AND SON, INCORPORATED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated July 13, 1945.


Attorney(s) appearing for the Case

Neil Burkinshaw, Esq., for the petitioner.

Irene F. Scott, Esq., for the respondent.


OPINION.

SMITH, Judge:

This proceeding is for the redetermination of a deficiency in unjust enrichment tax for the calendar year 1937 in the amount of $8,307.23. The petitioner filed an unjust enrichment tax return for 1937 which showed no tax due. In his deficiency notice the respondent stated:

A margin computation prepared in accordance with the method outlined in section 501 (e) (1) of the Revenue Act of 1936 indicates that the margin from...

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