INDIALANTIC, INC. v. COMMISSIONER

Docket No. 37274.

12 T.C.M. 880 (1953)

Indialantic, Inc. v. Commissioner.

United States Tax Court.

Entered July 31, 1953.


Attorney(s) appearing for the Case

B. Dave Bushaw, Esq., 2010 Guarland Building, Detroit, Mich., for the petitioner. Charles Speed Gray, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

WITHEY, Judge:

The respondent has determined deficiencies in petitioner's income tax liability as follows:

  1948 ...................    $4,300.58
  1949 ...................    $4,408.03

The issues presented for determination are whether respondent erred (1) in refusing to allow petitioner a deduction for legal, presidential and managerial expenses accrued during the calendar year 1948, payable...

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