PEELER HARDWARE CO. v. COMMISSIONER

Docket No. 5849.

5 T.C. 518 (1945)

PEELER HARDWARE COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated July 28, 1945.


Attorney(s) appearing for the Case

C. Baxter Jones, Esq., and L. D. Baggs, Jr., C. P. A., for the petitioner.

Edward L. Potter, Esq., for respondent.


The Commissioner determined deficiencies as follows:

------------------------------------------------------------------------------
                                     |            |   Declared   |    Excess
         Fiscal year ended—          | Income tax | value excess | profits tax
                                     |            |   profit tax |
-------------------------------------|------------|--------------|------------
May 31, 1940 ----...

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