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KALMON SHOE MANUFACTURING COMPANY v. COMMISSIONER

Docket No. 84135.

21 T.C.M. 305 (1962)

T.C. Memo. 1962-56

Kalmon Shoe Manufacturing Company v. Commissioner.

United States Tax Court.

Filed March 16, 1962.

Attorney(s) appearing for the Case

Milton H. Tucker, Esq., 611 Olive St., St. Louis, Mo., Abe J. Garland, Esq., and Jerome M. Rubenstein, Esq., for the petitioner. Edward E. Pigg, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

WITHEY, Judge:

The respondent has determined a deficiency of $46,323 in the income tax of the petitioner for the taxable period beginning February 1, 1955, and ended October 31, 1955. The sole issue for determination is the correctness of the respondent's action in determining that the cost to petitioner of its inventory on February 1, 1955, was $209,909.30 instead of $441...

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