VETERANS FOUNDATION v. COMMISSIONER

Docket No. 81916.

38 T.C. 66 (1962)

VETERANS FOUNDATION, A NONPROFIT CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed April 17, 1962.


Attorney(s) appearing for the Case

Gaylen S. Young, (an officer) for the petitioner.

Richard G. Worden, Esq., for the respondent.


PIERCE, Judge:

The respondent determined a deficiency of $8,442.96 in income tax against the petitioner corporation for its fiscal year ended February 28, 1958; and also an addition to tax of $844.30 under section 6651(a) of the 1954 Code, because of its failure to file a return for said fiscal year within the time prescribed by law.

Petitioner, as hereinafter more fully shown, operated two stores wherein it sold at retail and wholesale, used clothing...

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