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LAUNDRY v. COMMISSIONER

Docket No. 5911.

7 T.C. 1300 (1946)

PALOMAR LAUNDRY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated December 9, 1946.

Attorney(s) appearing for the Case

Raymond M. Wansley, C. P. A., for the petitioner.

H. A. Melville, Esq., for the respondent.

OPINION.

BLACK, Judge:

Respondent determined a deficiency in declared value excess profits tax for the year 1941 in the amount of $14.88, and a deficiency in excess profits tax for the years 1941 and 1942 in the respective amounts of $587.63 and $2,889.62. Only the amounts of excess profits tax for the years 1941 and 1942 are in controversy. The deficiencies are due to several adjustments to petitioner's invested capital for those years. Petitioner...

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