United States Board of Tax Appeals April 30, 1929, Docket No. 16287 (Farnsworth, Hoyt Co. v. Commissioner)

*313OPINION.

MaRqhette:

The pleadings in this case raise two issues, namely, is the petitioner entitled to have its profits tax for 1918 and 1919 computed under section 328 of the Revenue Act of 1918 and, did the respondent err in adjusting the petitioner’s invested capital for the fiscal years involved on account of the 1917 taxes of the partnership of Farnsworth, Hoyt & Co.?