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HEYMANN MERCANTILE COMPANY, INC. v. COMMISSIONER

Docket No. 14883.

7 T.C.M. 856 (1948)

Heymann Mercantile Company, Inc. v. Commissioner.

United States Tax Court.

Entered November 18, 1948.

Attorney(s) appearing for the Case

Randolph E. Paul, Esq., 1614 Eye St., N.W., Washington, D. C., and Carolyn E. Agger, Esq., for the petitioner. J. Richard Riggles, Jr., Esq., for the respondent.

Memorandum Findings of Fact and Opinion

OPPER, Judge:

By this proceeding petitioner challenges respondent's determination of deficiencies in income tax of $1,199.02, in declared value excess-profits tax of $10,735.06, and in excess-profits tax of $58,421.08 for the year 1944.

The primary litigated issue is whether petitioner is entitled to a deduction as a business expense of $89,767.73 said to represent...

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