WOODWARD GOVERNOR COMPANY v. COMMISSIONER

Docket No. 1317-68.

55 T.C. 56 (1970)

WOODWARD GOVERNOR COMPANY, AN ILLINOIS CORPORATION, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed October 19, 1970.


Attorney(s) appearing for the Case

Lajos Schmidt and Robert H. Aland, for the petitioner.

Seymour I. Sherman, for the respondent.


SIMPSON, Judge:

The respondent determined a deficiency in the petitioner's income tax for its taxable year ended September 30, 1963, in the amount of $146,333.49. One of the issues in this case has been settled. The remaining question to be decided is whether the respondent was authorized under section 482 of the Internal Revenue Code of 19541 to allocate to the petitioner certain income...

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