RUSPYN CORPORATION v. COMMISSIONER

Docket No. 31452.

18 T.C. 769 (1952)

RUSPYN CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated July 22, 1952.


Attorney(s) appearing for the Case

Carter T. Louthan, Esq., for the petitioner.

Ellyne E. Strickland, Esq., for the respondent.


The respondent determined deficiencies in petitioner's income and declared value excess-profits taxes for the calendar year 1944 in the following amounts:

Income tax ----------------------------------------------------   $32,949.39
Declared value excess-profits tax -----------------------------    12,169.44

The only issue for our determination is whether the respondent erred in disallowing a deduction of $96,400 taken by the petitioner on its tax...

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