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SOUTHEAST EQUIPMENT CORPORATION v. COMMISSIONER

Docket No. 71130.

33 T.C. 702 (1960)

SOUTHEAST EQUIPMENT CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed January 22, 1960.

Attorney(s) appearing for the Case

R. T. Boehm, Esq., for the petitioner.

William O. Allen, Esq., for the respondent.

TIETJENS, Judge:

The Commissioner determined a deficiency in income tax for the year 1954 in the amount of $6,243.32.

This determination was based on adjustments for unallowable claimed deductions totaling $12,006.38 for officers' expenses, rent, and depreciation. In the petition filed herein these adjustments were attacked as erroneous and petitioner alleged further error in including in gross income for 1954 certain items of inventory and accounts...

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