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PRINCESS GARMENT COMPANY v. COMMISSIONER

Docket No. 109874.

1 T.C.M. 186 (1942)

The Princess Garment Company v. Commissioner.

United States Tax Court.

Entered November 25, 1942.

Attorney(s) appearing for the Case

Lester A. Jaffe, Esq., 1616 Union Central Bldg., Cincinnati, O., and Harry Stickney, Esq., 1616 Union Central Bldg., Cincinnati, O., for the petitioner. Melvin S. Huffaker, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

The respondent determined deficiencies of $4,554.48 and $1,029.04 in the petitioner's income and excess profits taxes respectively for the year 1939.

The single issue is whether or not the petitioner is entitled to the deduction of a $25,000 payment made to an employees' pension trust.

In the alternative, the petitioner claims the deduction as an ordinary and necessary business expense.

Findings of...

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