REPUBLIC NATIONAL BANK OF DALLAS v. COMMISSIONER

Docket No. 11690.

9 T.C. 1039 (1947)

REPUBLIC NATIONAL BANK OF DALLAS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated November 28, 1947.


Attorney(s) appearing for the Case

J. P. Jackson, Esq., and S. G. Winstead, Esq., for the petitioner.

J. Marvin Kelley, Esq., for the respondent.


This case involves an income tax deficiency of $28,954.50 for 1940, a declared value excess profits tax deficiency of $1,139 for 1941, and excess profits tax deficiencies for 1941 and 1942 in the respective amounts of $135,603.96 and $24,453.14. Certain of the adjustments made by the Commissioner are not contested.

The questions presented are:

(1) Whether for equity invested capital purposes in 1940, 1941, and 1942...

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