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LAREDO BRIDGE CO. v. COMMISSIONER

Docket No. 6354.

7 T.C. 17 (1946)

LAREDO BRIDGE CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated June 5, 1946.

Attorney(s) appearing for the Case

Wilton H. Wallace, Esq., for the petitioner.

John W. Alexander, Esq., for the respondent.

The Commissioner determined a deficiency in petitioner's excess profits tax for the calendar year 1941 in the amount of $4,596.29. The single question at issue is whether, in computing the excess profits net income for 1937, one of the base period years involved, there should be deducted a loss of $68,575.53 sustained by petitioner upon the condemnation by the Government of Mexico of the Mexican end of its international toll bridge...

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