MISSISSIPPI RIVER FUEL CORPORATION v. COMMISSIONER

Docket No. 42856.

29 T.C. 1248 (1958)

MISSISSIPPI RIVER FUEL CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed March 31, 1958.


Attorney(s) appearing for the Case

Christian B. Peper, Esq., and William A. Dougherty, Esq., for the petitioner.

David Karsted, Esq., for the respondent.


PIERCE, Judge:

Respondent determined a deficiency in petitioner's income tax for the year 1949 in the amount of $4,028.89; and a deficiency in its income and excess profits tax for the year 1950 in the amount of $28,915.69. The petitioner, in its petition to this Court, challenged these deficiencies and alleged that said taxes were overpaid in the amounts of $7,305.70 and $305,904.51, respectively. Thereafter the respondent, in an amended answer to the petition...

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