JOE BALESTRIERI & CO. v. COMMISSIONER

Docket No. 12834.

7 T.C.M. 553 (1948)

Joe Balestrieri & Co. v. Commissioner.

United States Tax Court.

Entered August 2, 1948.


Attorney(s) appearing for the Case

Louis Janin, Esq., for the petitioner. C. W. Nyquist, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

Respondent has determined a deficiency in petitioner's excess profits tax liability for the year 1943 in the sum of $25,021.71. The only error alleged in the amended petition is as follows: "The Commissioner erred in disallowing the loss of $22,229.37, or any part thereof, resulting from a business venture between petitioner and Strategic Mineral Exploration Co., a partnership." Respondent had disallowed this alleged loss...

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