HEER-ANDRES INVESTMENT COMPANY v. COMMISSIONER

Docket No. 46537.

22 T.C. 385 (1954)

THE HEER-ANDRES INVESTMENT COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed May 21, 1954.


Attorney(s) appearing for the Case

J. Weston Miller, Esq., for the petitioner.

Mark Townsend, Esq., for the respondent.


OPINION.

WITHEY, Judge:

The respondent determined deficiencies in petitioner's income tax in the amount of $17,457.20 and in declared value excess-profits tax in the amount of $5,336.34 for the taxable year ended January 31, 1945. The issue for decision is whether the adjustment made by the respondent is authorized by section 3801 (b) (3) of the Internal Revenue Code.

All of the facts have been stipulated...

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