MERCANTILE NATIONAL BANK AT DALLAS v. COMMISSIONER

Docket Nos. 57631, 65927.

30 T.C. 84 (1958)

MERCANTILE NATIONAL BANK AT DALLAS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed April 22, 1958.


Attorney(s) appearing for the Case

Edward L. Wilson, Esq., and Hubert D. Johnson, Esq., for the petitioner.

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


ATKINS, Judge:

The respondent determined deficiencies in income and excess profits taxes for the calendar years, and in the amounts as follows:

1951 --------------   Income tax -------------------------   $8,282.98
1952 --------------   Income and excess profits tax ------   61,777.97
1953 --------------   Income and excess profits tax ------   24,459.69

The major portion of the excess profits tax deficiencies arises out of the respondent...

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