KEMP & HEBERT, INC. v. COMMISSIONER

Docket Nos. 7978, 26926.

18 T.C. 922 (1952)

KEMP & HEBERT, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated August 27, 1952.


Attorney(s) appearing for the Case

J. W. Greenough, Esq., for the petitioner.

George G. LeBlanc, Esq., for the respondent.


The only issue for decision is whether the petitioner is entitled to relief under section 722 (b) (1), (2) or (5) for its fiscal years ended January 31, 1943, through January 31, 1946.

FINDINGS OF FACT.

The petitioner was incorporated in 1902 to carry on a business of selling work clothes at retail in Spokane, Washington. The business had been established as a partnership in 1892 by Charles J. Kemp and Henry H. Hebert...

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