WILLIAM M. BAILEY CO. v. COMMISSIONER

Docket No. 22615.

15 T.C. 468 (1950)

WILLIAM M. BAILEY COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated October 10, 1950.


Attorney(s) appearing for the Case

William Wallace Booth, Esq., and Sidney B. Gambill, Esq., for the petitioner.

Kalman A. Goldring, Esq., for the respondent.


By this proceeding petitioner claims a refund, under Internal Revenue Code section 721 (a) (2) (C), of excess profits tax for 1942 and 1943, and challenges respondent's determination of deficiencies in declared value excess profits tax and excess profits tax as follows:

                                             Declared value     Excess profits
Year                                        excess profit tax        tax

1942...

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