United States Board of Tax Appeals November 6, 1924, Docket No. 59. (Reub Isaacs & Co. v. Commissioner)

lead-opinion

*47OPINION.

Littleton :

This is an appeal by the taxpayer, Beub Isaacs & Co., Inc., from a determination of the Commissioner asserting additional income and profits taxes for the fiscal years ending October 31, 1918, 1919, and 1920.

The taxpayer is a closely held New York corporation.