PATERSON BOILER & TANK, INC. v. COMMISSIONER

Docket No. 7575.

6 T.C.M. 383 (1947)

Paterson Boiler & Tank, Inc. v. Commissioner.

United States Tax Court.

Entered April 11, 1947.


Attorney(s) appearing for the Case

John W. Hand, Esq., and John J. White, C. P. A., 129 Market St., Paterson, N. J., for the petitioner. A. H. Monacelli, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The Commissioner determined deficiencies in the amounts of $4,411.61 in income tax, $3,085.89 in declared value excess profits tax, $11,625.60 in excess profits tax for the calendar year 1941, and $25,638.43 in excess profits tax for the calendar year 1942.

The deficiencies grew out of the disallowance by the Commissioner of a part of claimed deductions on account of officers' salaries paid by petitioner for the years...

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