EZO PRODUCTS CO. v. COMMISSIONER

Docket No. 85436.

37 T.C. 385 (1961)

EZO PRODUCTS COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed November 30, 1961.


Attorney(s) appearing for the Case

Alvin J. Ivers, Esq., for the petitioner.

Albert Squire, Esq., for the respondent.


SCOTT, Judge:

Respondent determined deficiencies in petitioner's income tax for the years 1956 and 1957 in the amounts of $27,980.77 and $3,528.73, respectively.

The issues for decision are:

(1) Whether respondent correctly determined that petitioner's income for the years 1956 and 1957 should be reported on an accrual basis of accounting in lieu of the cash receipts and disbursements basis upon which petitioner kept its books and filed its...

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