MARQUARDT CORPORATION v. COMMISSIONER

Docket No. 74983.

39 T.C. 443 (1962)

THE MARQUARDT CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed November 27, 1962.


Attorney(s) appearing for the Case

Sidney H. Wall, Esq., for the petitioner.

James Q. Smith, Esq., for the respondent.


TRAIN, Judge:

Respondent determined deficiencies in petitioner's income tax for the calendar years 1952 and 1953 in the amounts of $362,847.34 and $424,893.38, respectively, and overassessments for the calendar years 1951 and 1954 in the amounts of $9,809.81 and $369,568.46, respectively.

The issues for decision are as follows:

(1) Whether petitioner was required to accrue amounts which it had no fixed or unconditional right to;

(2)...

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