SEMINOLE ROCK & SAND CO. v. COMMISSIONER

Docket No. 32645.

19 T.C. 259 (1952)

SEMINOLE ROCK AND SAND COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated November 18, 1952.


Attorney(s) appearing for the Case

Stanley Worth, Esq., for the petitioner.

Newman A. Townsend, Jr., Esq., for the respondent.


TIETJENS, Judge:

Petitioner asks a redetermination of a deficiency in income tax for 1943 of $21,500.37.

Two issues are presented for decision: (1) Was the allocation to petitioner of a portion of the gross income and deductions of Pratt, Lassiter & Watkins, a partnership, proper; and (2) was petitioner entitled to a claimed deduction for loss due to abandonment of an asphalt plant.

FINDINGS OF FACT.

The petitioner (hereinafter...

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