KERSHAW MANUFACTURING COMPANY, INC. v. COMMISSIONER

Docket No. 567-64.

24 T.C.M. 228 (1965)

T.C. Memo. 1965-44

Kershaw Manufacturing Company, Inc. v. Commissioner.

United States Tax Court.

Filed March 3, 1965.


Attorney(s) appearing for the Case

H. Cecil Kilpatrick, 912 American Security Bldg., Washington, D. C., and Fred S. Ball, Jr., for the petitioner. Ford P. Mitchell, for the respondent.


Memorandum Findings of Fact and Opinion

SCOTT, Judge:

Respondent determined deficiencies in petitioner's income tax for the fiscal years ended April 30, 1961 and 1962, in the amounts of $153,696.77 and $110,504.32, respectively.

One of the issues raised by the pleadings was conceded by respondent on brief, leaving for our decision the question of whether petitioner is entitled to deduct in its fiscal years ended April 30, 1961 and 1962, net operating...

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