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SMITH v. COMMISSIONER

Docket No. 23812.

10 T.C.M. 1006 (1951)

Sol Smith v. Commissioner.

United States Tax Court.

Entered October 24, 1951.

Attorney(s) appearing for the Case

Aaron Goldfarb, Esq., 517 City Nat'l Bank Bldg., Houston 2, Texas, for the petitioner. D. Louis Bergeron, Esq., for the respondent.

Memorandum Opinion

TIETJENS, Judge:

Respondent determined an income tax deficiency of $5,538.68 for the calendar year 1946.

The sole question to be determined is whether petitioner should be allowed to subtract from gross income the sum of $22,651.97 which he paid in excess of the stated O. P. A. price for automobiles purchased for resale in computing his taxable income.

Other adjustments have been agreed to by the parties.

[The...

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