GUSSOW, KAHN & CO., INC. v. COMMISSIONER

Docket No. 16970.

13 T.C. 580 (1949)

GUSSOW, KAHN & CO., INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated October 19, 1949.


Attorney(s) appearing for the Case

Abraham Kraditor, Esq., for the petitioner.

E. Randolph Dale, Esq., for the respondent.


The respondent determined deficiencies against the petitioner for the year 1944 as follows:

Income tax --------------------------------   $1,770.90
Declared value excess profits tax ---------      887.90
Excess profits tax ------------------------    3,666.49

One of the three adjustments made by respondent in petitioner's net income for 1944 is not contested. Only two issues, therefore, are raised by the pleadings: (1) Did petitioner sustain a deductible...

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