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FEDERAL MACHINE AND WELDER CO. v. COMMISSIONER

Docket No. 13715.

11 T.C. 952 (1948)

THE FEDERAL MACHINE AND WELDER COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated November 30, 1948.

Attorney(s) appearing for the Case

Eugene Meacham, Esq., and Colman B. Stein, Esq., for the petitioner.

Lawrence R. Bloomenthal, Esq., for the respondent.

LEMIRE, Judge:

This proceeding involves deficiencies for petitioner's taxable year ended September 30, 1941, as follows: Income tax, $76,131.11; declared value excess profits tax, $16,740.33; and excess profits tax, $158,465.94.

The questions in issue are (1) whether the income from the sale of equipment which the petitioner manufactured for export accrued in petitioner's taxable year ended September 30, 1940, when the work was substantially completed...

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