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KOBY v. COMMISSIONER

Docket No. 21637.

14 T.C. 1103 (1950)

Z. W. KOBY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated June 7, 1950.

Attorney(s) appearing for the Case

Morton S. Zaller, Esq., and Bennet Kleinman, Esq., for the petitioner.

William R. Bagby, Esq., for the respondent.

The Commissioner has determined a deficiency of $18,562.90 in petitioner's income and victory tax for the year 1943. The year 1942 is involved because of the foregiveness feature of the Current Tax Payment Act of 1943.

The issues for decision are (1) whether certain adjustments made by respondent to petitioner's income for the year 1942 to recognize the change from the cash basis to an accrual basis of accounting in that...

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