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ELECTRIC AUTO-LITE COMPANY v. COMMISSIONER

Docket No. 111986.

2 T.C.M. 560 (1943)

The Electric Auto-Lite Company v. Commissioner.

United States Tax Court.

Entered August 4, 1943.

Attorney(s) appearing for the Case

Theodore Pearson, Esq., for the petitioner. Lawrence R. Bloomenthal, Esq., for the respondent.

Memorandum Opinion

STERNHAGEN, Judge:

A deficiency for 1939 of $465.78 income tax and $289.66 declared value excess profits tax was determined by the Commissioner as a result of three adjustments. The taxpayer assails only the disallowance of a deduction of $30,006.25 taken by the taxpayer as a capital loss in the sale of all the shares of Marko Storage Battery Corporation to USL Battery Corporation, of which it owned all the shares. The facts are all contained...

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