KAY, INC. v. COMMISSIONER

Docket No. 16437.

8 T.C.M. 911 (1949)

Kay, Inc. v. Commissioner.

United States Tax Court.

Entered October 10, 1949.


Attorney(s) appearing for the Case

Ira J. Meyer, Esq., 116 John St., New York, N. Y., for the petitioner. Stephen P. Cadden, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The Commissioner determined deficiencies in petitioner's income tax for fiscal years ended October 31, 1944, 1945 and 1946 in the amounts of $585.92, $5,371.45 and $1,202.79, respectively. Except for disallowance of a deduction for New York franchise taxes in the amount of $343.17 in the fiscal year 1945, these deficiencies resulted from partial disallowance of deductions claimed for compensation of petitioner's officers....

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