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LITCHFIELD CREAMERY COMPANY v. COMMISSIONER

Docket No. 110318.

2 T.C.M. 929 (1943)

Litchfield Creamery Company v. Commissioner.

United States Tax Court.

Entered October 19, 1943.

Attorney(s) appearing for the Case

Jay C. Halls, Esq., Anderson A. Owen, Esq., 1 N. LaSalle St., Chicago, Ill., and Raymond E. Rickbeil, C. P. A., for the petitioner. John D. Kiley, Esq., and H. H. Hart, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

The Commissioner determined deficiencies in income tax for the years 1938 and 1939 in the respective amounts of $49,248.74 and $49,003.11. The determination was based upon the Commissioner's holding that during the tax years petitioner's earnings were permitted to accumulate beyond the reasonable needs of its business with the purpose of preventing the imposition of surtaxes upon its shareholders. Whether or not he was correct...

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