The Commissioner determined a deficiency in income tax for the year 1949 in the amount of $148,867.81. The petitioner concedes that some of the Commissioner's adjustments are correct so that there is a deficiency of about $35,907.31. The remaining deficiency of $112,960.50 is in dispute. There are two issues to be decided, as follows:
(1) Whether the petitioner's adoption, in 1949, of a new system of accounting for sales of copra which were in transit at the end of...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
