MATAGORDA SHELL COMPANY v. COMMISSIONER

Docket No. 54959.

29 T.C. 1060 (1958)

MATAGORDA SHELL COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed February 28, 1958.


Attorney(s) appearing for the Case

Robert Ash, Esq., and Carl F. Bauersfeld, Esq., for the petitioner.

Paul M. Newton, Esq., for the respondent.


This proceeding involves the following deficiencies in income tax:

Fiscal year                                         Income tax
ended May 31                                        deficiency

   1951 -----------------------------------------    $2,099.14
   1952 -----------------------------------------    38,687.47

The issues are: (1) Whether respondent erred in reducing petitioner's gross receipts or "gross income...

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