United States Board of Tax Appeals November 12, 1928, Docket No. 13819. (Munn Hotel Co. v. Commissioner)

lead-opinion

*95OPINION.

Marquette:

Tbe pleadings in this proceeding raise three issues which will be discussed and disposed of in the order in which they are stated above. The first is whether the respondent erred in reducing the petitioner’s invested capital for the year 1921 on account of 1920 income and profits taxes, prorated to the dates they were due and payable.