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W. B. DAVIS & SON, INC. v. COMMISSIONER

Docket No. 21.

5 T.C. 1195 (1945)

W. B. DAVIS & SON, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated December 10, 1945.

Attorney(s) appearing for the Case

Charles A. Noone, Esq., for the petitioner.

Charles P. Bagley, Esq., for the respondent.

This is a proceeding involving deficiencies of $1,582.50 in income tax for 1939, $2,070.85 in income and income defense taxes for 1940, and $1,970.68 in excess profits tax for 1940. The issues are whether the petitioner is entitled (1) to deduct $6,692.51 in 1939 and $7,449.65 in 1940 as ordinary and necessary business expenses; (2) to exclude $8,511.44 from its excess profits net income of the year 1940 under the provisions of section...

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