TIME OIL CO. v. COMMISSIONER

Docket No. 50122.

26 T.C. 1061 (1956)

TIME OIL CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed September 19, 1956.


Attorney(s) appearing for the Case

A. R. Kehoe, Esq., for the petitioner.

John H. Welch, Esq., and Wilford H. Payne, Esq., for the respondent.


The respondent determined deficiencies in the income tax of petitioner as follows:

Year                                            Deficiency

1949 ----------------------------------------   $63,105.48
1950 ----------------------------------------    50,046.05

The sole issue presented for our decision is the correctness of the respondent's action in determining that petitioner is not entitled to deduct amounts contributed to an employees...

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