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DIELECTRIC MATERIALS COMPANY v. COMMISSIONER

Docket No. 2158-70.

57 T.C. 587 (1972)

DIELECTRIC MATERIALS COMPANY, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed February 8, 1972.

Attorney(s) appearing for the Case

William M. Ward, for the petitioner.

Bert L. Kahn and William L. Ringuette, for the respondent.

TANNENWALD, Judge:

Respondent asserted a deficiency of $32,442.51 in petitioner's income tax for 1966. Petitioner has conceded the correctness of one of respondent's adjustments, leaving the following issues for decision:

(1) Whether compensation paid by petitioner to its president and principal shareholder was reasonable in amount so as to be deductible under section 162(a)(1)1;

(2) Whether the useful life of petitioner...

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