PENNSYLVANIA CONTAINERS, INC. v. COMMISSIONER

Docket No. 94606.

22 T.C.M. 1235 (1963)

T.C. Memo. 1963-246

Pennsylvania Containers, Inc. v. Commissioner.

United States Tax Court.

Filed September 11, 1963.


Attorney(s) appearing for the Case

Elliot Wald, Bernard P. Wald and Nathan Wald, 350 5th Ave., New York, N. Y., for the petitioner. Lee A. Kamp, for the respondent.


Memorandum Findings of Fact and Opinion

MULRONEY, Judge:

The respondent determined a deficiency in petitioner's 1959 income tax in the amount of $5,651.74. In his notice of deficiency respondent explained the deficiency resulted from his determination "that the deduction claimed for officers' salaries on your income tax return for the taxable year ended May 31, 1959 in the amount of $20,000.00 is disallowed to the extent of $14,000.00, in accordance with...

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