United States Board of Tax Appeals October 11, 1927, Docket Nos. 9330, 10116. (Coon Auto Co. v. Commissioner)

lead-opinion

*765OPINION.

Smith:

1. The first question presented is the correctness of the action of the respondent in adding to the net income reported for 1919, $9,234.07 representing an arbitrary write-down of the inventory at the beginning of that year.