MILL FACTORS CORPORATION v. COMMISSIONER

Docket No. 20078.

14 T.C. 1366 (1950)

MILL FACTORS CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated June 30, 1950.


Attorney(s) appearing for the Case

George E. Cleary, Esq., and Martin C. Barell, Esq., for the petitioner.

Scott A. Dahlquist, Esq., for the respondent.


Respondent determined a deficiency in petitioner's income tax for the calendar year 1942 in the amount of $5,030.61 and an overassessment of petitioner's excess profits tax liability in the amount of $14,128.24. Petitioner claims that there is an overpayment of $25,614.73 in income tax for 1942.

Petitioner in its petition assigns error as follows:

The respondent erred in allowing as a deduction for the year 1942 as...

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