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HENRY KRAFT MERCANTILE COMPANY v. COMMISSIONER

Docket No. 53327.

14 T.C.M. 833 (1955)

T.C. Memo. 1955-208

Henry Kraft Mercantile Company v. Commissioner.

United States Tax Court.

Filed July 26, 1955.

Attorney(s) appearing for the Case

Gilbert Carter, Esq., 223½ West Cherry Street, Nevada, Mo., for the petitioner. Hunter D. Heggie, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

The Commissioner determined a deficiency of $2,492.34 in income tax for the taxable year 1950.

The question for decision is whether the Commissioner properly disallowed an embezzlement loss claimed for the taxable year.

Findings of Fact

Petitioner is a Missouri corporation engaged in the wholesale grocery business with its principal office in Nevada, Missouri. Its books were kept on a calendar-year...

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