PHOTO-SONICS, INC. v. C. I. R.

No. 19921.

357 F.2d 656 (1966)

PHOTO-SONICS, INC., Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Ninth Circuit.

February 24, 1966.


Attorney(s) appearing for the Case

F. Edward Little, Los Angeles, Cal., for petitioner.

Richard M. Roberts, Acting Asst. Atty. Gen., Lee A. Jackson, Joseph Kovner, Richard J. Heiman, Attys., Dept. of Justice, Washington, D. C., for respondent.

Before BARNES, JERTBERG, and ELY, Circuit Judges.


ELY, Circuit Judge:

We face a petition for review of a Tax Court decision upholding the assessment of a deficiency in the payment of income taxes. The decision is reported at 42 T.C. 926 (1964). The petitioning taxpayer properly invokes our jurisdiction under sections 7482 and 7483 of the Internal Revenue Code of 1954.

The controversy stems from taxpayer's method of accounting for its inventory of goods which it manufactured...

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