HENRY PHIPPS ESTATES v. COMMISSIONER

Docket No. 5156.

5 T.C. 964 (1945)

HENRY PHIPPS ESTATES, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated October 22, 1945.


Attorney(s) appearing for the Case

B. H. Bartholow, Esq., for the petitioner.

Francis X. Gallagher, Esq., for the respondent.


This case involves income and declared value excess profits taxes. The deficiencies herein involved were determined in the amounts of $27,006.72 in income tax and $19,639.01 in declared value excess profits tax, both for the calendar year 1939. At the hearing respondent asked for an increase in deficiency because of additional disallowance of $9,402.11 deduction, and petitioner agreed. Therefore, the matter will be reflected in decision...

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