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LATCHIS THEATRES OF KEENE, INC. v. COMMISSIONER

Docket Nos. 28204, 28205.

19 T.C. 1054 (1953)

LATCHIS THEATRES OF KEENE, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. LATCHIS THEATRES OF CLAREMONT, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated March 11, 1953.

Attorney(s) appearing for the Case

Bennett Sanderson, Esq., for the petitioners.

William C. W. Haynes, Esq., for the respondent.

The Commissioner determined deficiencies for 1946 in section 102 surtax of $4,577.60 in the case of Latchis Theatres of Keene, Inc., and $2,118.64 in the case of Latchis Theatres of Claremont, Inc. The question for decision is whether the earnings or profits of each of these petitioners were permitted to accumulate in 1946 beyond the reasonable needs of the business so that as a result the corporation was availed of for the purpose of preventing the imposition of the surtax...

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