Memorandum Opinion
WILBUR, Judge:
Respondent determined a deficiency of $217,784 in petitioner's Federal income tax for its taxable year ending July 31, 1973. The sole issue presented here for our decision is whether petitioner properly used a ten-year period following a change in its method of accounting for inventory in which to report prior write-downs taken for slow-moving or overstocked items.
This case was submitted fully stipulated, and the...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
