SANTEE RIVER HARDWOOD COMPANY v. COMMISSIONER

Docket No. 37712.

26 T.C. 755 (1956)

SANTEE RIVER HARDWOOD COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed June 29, 1956.


Attorney(s) appearing for the Case

Stanley Worth, Esq., for the petitioner.

Philon Wigder, Esq., for the respondent.


The respondent disallowed the petitioner's claim for relief under section 722, for the year 1941, in the amount of $35,859.43. The claim was made under section 722 (b) (4) and (b) (5), on the ground that the petitioner was obligated to operate under an allegedly unfavorable contract during the base period years. Further claim was made under section 722 (b) (5) on the ground that there was a disparity between deductions taken for depreciation on petitioner's plant during the...

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