SARFERT HOSIERY MILLS, INC. v. COMMISSIONER

Docket No. 9512.

6 T.C.M. 1208 (1947)

Sarfert Hosiery Mills, Inc. v. Commissioner.

United States Tax Court.

Entered November 13, 1947.


Attorney(s) appearing for the Case

Herman H. Krekstein, Esq., 1528 Walnut St., Philadelphia 2, Pa., and Meyer Boskey, Esq., 11 West 42nd St., New York 18, N. Y., for the petitioner. Karl W. Windhorst, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

HARLAN, Judge:

This case involves deficiencies in income and excess profits taxes for the taxable year 1940 in the respective amounts of $3,660.41 and $1,620.60.

The question involved is the reasonableness of the compensation for personal services rendered by three officers of petitioner corporation during said year. Respondent made the following adjustments of said salary and based his notice of deficiency...

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