RIALTO MINING CORPORATION v. COMMISSIONER

Docket Nos. 6978, 8083.

5 T.C.M. 519 (1946)

Rialto Mining Corporation v. Commissioner.

United States Tax Court.

Entered June 25, 1946.


Attorney(s) appearing for the Case

Tom F. Carey, C. P. A., 1103 Colcord Bldg., Oklahoma City, Okla., for the petitioner. Frank B. Schlosser, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

DISNEY, Judge:

The respondent determined deficiencies in petitioner's income taxes of $1,582.94 and $9,317.28 for 1940 and 1942, respectively. Petitioner claims an overpayment of $4,051.32 in income taxes for 1940 and an undisclosed amount for 1942.

The issues involved in the proceedings and for our consideration are:

1. Did respondent err in not allowing the petitioner a deduction from income for the...

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