SEVEN CANAL PLACE CORPORATION v. COMMISSIONER

Docket No. 1162-62.

23 T.C.M. 1643 (1964)

T.C. Memo. 1964-270

Seven Canal Place Corporation v. Commissioner.

United States Tax Court.

Filed October 15, 1964.


Attorney(s) appearing for the Case

Robert P. Beshar, for the petitioner. Warren Shine, for the respondent.


Memorandum Findings of Fact and Opinion

PIERCE, Judge:

Respondent determined a deficiency in the income tax of the petitioner corporation for its taxable calendar year 1956 in the amount of $2,758.26. The sole issue for decision is the amount of the deduction for reasonable compensation to its officers, to which it is entitled for said year.

Findings of Fact

Some of the facts have been...

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