BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSN. v. COMMISSIONER

Docket No. 8993.

15 T.C. 544 (1950)

BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated October 20, 1950.


Attorney(s) appearing for the Case

George H. Koster, Esq., for the petitioner.

Earl C. Crouter, Esq., for the respondent.


The Commissioner originally determined a deficiency in petitioner's income tax liability for 1943 in the amount of $915,040.93 and a deficiency in petitioner's declared value excess profits tax liability for 1943 in the amount of $161,650.70. In an amended answer, the Commissioner has made claim for increased deficiencies in both taxes, increasing the deficiencies to $942,337.38 and $166,472.87, respectively, upon his determination that petitioner had additional income in...

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