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ASTHMANEFRIN CO. v. COMMISSIONER

Docket No. 51339.

25 T.C. 1139 (1956)

ASTHMANEFRIN COMPANY, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed February 29, 1956.

Attorney(s) appearing for the Case

Frank H. Spears, Esq., and Cody W. Shatley, Esq., for the petitioner.

Wendell M. Basye, Esq., for the respondent.

OPINION.

VAN FOSSAN, Judge:

Respondent determined a deficiency of $404.38 in petitioner's income tax for the year 1949. The deficiency was, in part, consequent on respondent's holding that the sum of $746.50 expended by petitioner in November and December 1949 for the payment of 1949-1950 real property ad valorem taxes on two parcels of real estate acquired by petitioner in April 1949, should be capitalized as a part of the cost of such property and...

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