MT. MANSFIELD CO. v. COMMISSIONER

Docket No. 1438-67.

50 T.C. 798 (1968)

MT. MANSFIELD COMPANY, INC., PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed August 29, 1968.


Attorney(s) appearing for the Case

Peter J. Malloy, Jr., for the petitioner.

Rufus E. Stetson, Jr., for the respondent.


IRWIN, Judge:

Respondent determined deficiencies in petitioner's income tax of $3,675.89 for the taxable year ending October 31, 1962, and $15,095.33 for the taxable year ending October 31, 1963.

Since the parties have settled the issue relating to petitioner's deduction for depreciation and since petitioner did not assign error in its petition or at trial to the other deductions disallowed by the respondent, the sole issue remaining for decision is...

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