NEPTUNE BAGEL BAKERS, INC. v. COMMISSIONER

Docket No. 47063.

14 T.C.M. 339 (1955)

T.C. Memo. 1955-101

Neptune Bagel Bakers, Inc. v. Commissioner.

United States Tax Court.

Filed April 22, 1955.


Attorney(s) appearing for the Case

Vincent B. Lewin, Esq., for the petitioner. Maurice E. Stark, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

This proceeding involves deficiencies in income tax and penalties as follows:

  Year Ended                          50%          25%
   May 31st          Deficiency     Penalty      Penalty

    1949 .........    $5,327.91    $2,663.96    $1,331.98
    1950 .........     7,258.69     3,629.35     1,814.67

The deficiencies arise from the disallowance of deductions for wages and from some unreported...

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