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SOUTH TEXAS LUMBER CO. v. COMMISSIONER

Docket No. 10050.

7 T.C. 669 (1946)

SOUTH TEXAS LUMBER COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated August 30, 1946.

Attorney(s) appearing for the Case

J. Arthur Platt, Esq., for the petitioner.

P. Louis Bergeron, Esq., for the respondent.

Petitioner seeks a redetermination of a deficiency in excess profits tax for the year 1943 in the original amount of $6,797.34, which amount, however, has since been reduced by negotiations between the parties, leaving a net amount in controversy of $1,708.53.

The question involved is whether petitioner is entitled to include the anticipated and unreported profits from installment transactions outstanding on its books as at...

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