Memorandum Findings of Fact and Opinion
Respondent determined a deficiency in income tax of $2,118.96 for the taxable year 1947. The sole issue is whether respondent, in determining that use of inventories was necessary in order to properly reflect petitioner's income, was correct in including in petitioner's gross income for 1947 the ending inventory of $5,010.85 without taking into account the opening inventory for that year.
Findings of Fact
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.