Memorandum Findings of Fact and Opinion
The Commissioner determined a deficiency in income tax for the taxable year ended June 30, 1949, in the amount of $88,621.72. The petitioner does not contest some of the adjustments. There are two issues for decision: (1) whether it was proper for the Commissioner to disallow a deduction of $8,564 for travel and entertainment expenses; and (2) whether the cash receipts and disbursements method of accounting which the petitioner...
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.