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INTERNATIONAL COLOR GRAVURE, INC. v. COMMISSIONER

Docket No. 71655.

20 T.C.M. 61 (1961)

T.C. Memo. 1961-15

International Color Gravure, Inc. v. Commissioner.

United States Tax Court.

Filed January 26, 1961.

Attorney(s) appearing for the Case

James A. Cuddihy, Esq., 485 Lexington Ave., New York, N. Y., for the petitioner. Herbert Rothenberg, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

OPPER, Judge:

Respondent determined deficiencies in petitioner's income tax for the fiscal years ending March 31, 1954 and 1955 in the respective amounts of $2,963.90 and $4,718.16. The issue remaining is whether, in each of the years, certain rental payments were required as a condition to the continued use or possession of leased machinery so as to constitute ordinary and necessary business expenses.

Findings...

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