VERMONT TRANSIT CO., INC. v. COMMISSIONER

Docket No. 34152.

19 T.C. 1040 (1953)

VERMONT TRANSIT CO., INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated March 10, 1953.


Attorney(s) appearing for the Case

Guy M. Page, Esq., and Charles W. Tye, Esq., for the petitioner.

Lester H. Salter, Esq., for the respondent.


OPINION.

RAUM, Judge:

The respondent determined deficiencies in the income tax of the petitioner for the years 1942 and 1943 in the amounts of $11.19 and $178.92, respectively. Petitioner contested the deficiencies and claimed overpayments for each year. Certain issues raised by the petitioner have since been abandoned. The sole remaining issue is whether amounts of $54,262.18 and $37,347.78 were properly included in its gross income for 1942 and...

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