MAY DEPARTMENT STORES COMPANY v. COMMISSIONER

Docket Nos. 23855, 23859.

16 T.C. 547 (1951)

THE MAY DEPARTMENT STORES COMPANY (SUCCESSOR OF KAUFMANN DEPARTMENT STORES, INC., BY MERGER AND CONSOLIDATION), PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. KAUFMANN DEPARTMENT STORES, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated March 1, 1951.


Attorney(s) appearing for the Case

Sidney B. Gambill, Esq., and Thomas J. McManus, Esq., for the petitioners.

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


These cases were consolidated for hearing and involve, in the case of Kaufmann Department Stores, Inc., deficiencies of $55,068.35 in declared value excess-profits tax and $1,413,711.05 in excess profits tax for the year 1943, and in the case of The May Department Stores Co., liability for the deficiencies as a transferee. The sole issue in the case of the transferor is whether the respondent erred in disallowing deduction of an ordinary...

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