The respondent has determined deficiencies in income and excess profits taxes for the year 1937 against the petitioner in the amounts of $48,379.45 and $4,497.20, respectively. The issue presented by the pleadings is whether in respect of certain contracts for the future delivery of hides previously sold by petitioner, which contracts were still open at December 31, 1937, there should be included in petitioner's income for 1937 an amount equal to the margin of the profit...
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.