CLEMSON BROS., INC. v. COMMISSIONER

Docket No. 7663.

6 T.C.M. 799 (1947)

Clemson Bros., Inc. v. Commissioner.

United States Tax Court.

Entered June 30, 1947.


Attorney(s) appearing for the Case

Geo. E. H. Goodner, Esq., Munsey Bldg., Washington 4, D. C., for the petitioner. Harold D. Thomas, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

TYSON, Judge:

The respondent has determined an over-assessment of $153.52 in income tax and a deficiency of $24,088.62 in excess profits tax for the taxable period ended September 30, 1941. All of the asserted deficiency is in controversy.

Petitioner alleges that in computing its equity invested capital for the purpose of determining excess profits tax for the taxable period, the respondent erred in excluding...

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