CHICAGO & NORTH WESTERN RAILWAY CO. v. COMMISSIONER

Docket No. 37425.

29 T.C. 989 (1958)

CHICAGO AND NORTH WESTERN RAILWAY COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed February 27, 1958.


Attorney(s) appearing for the Case

Nelson Trottman, Esq., Harry B. Sutter, Esq., C. I. Waldo, Jr., Esq., Charles W. Davis, Esq., and Frederic W. Hickman, Esq., for the petitioner.

Gerald W. Broooks, Esq., Harold H. Hart, Esq., and Andrew Kopperud, Jr., Esq., for the respondent.


OPINION.

ARUNDELL, Judge:

Respondent determined deficiencies in income and surtaxes for the calendar years 1942 and 1943 in the amounts of $331,198.28 and $303,689.61, respectively. Petitioner claims there are no deficiencies and that it is entitled to a refund in each year. Respondent, on the other hand, has made claim for increased deficiencies under section 272 (e) of the Internal Revenue Code of 1939....

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