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ALLEGHENY FORGING COMPANY v. COMMISSIONER

Docket No. 7827.

6 T.C.M. 415 (1947)

Allegheny Forging Company v. Commissioner.

United States Tax Court.

Entered April 23, 1947.

Attorney(s) appearing for the Case

S. C. Pugliese, Esq., for the petitioner. Stanley L. Drexler, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

The Commissioner determined for 1941 a deficiency of $83.85 in declared value excess-profits tax and a penalty of $20.96, and deficiencies of $1,436.41 and $13,470.49 in excess profits tax for 1940 and 1941 and a penalty for 1941 of $3,367.62. The only issue for decision is whether the Commissioner erred in denying for lack of substantiation $300,000 of equity invested capital claimed by the petitioner.

Findings of...

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