United States Board of Tax Appeals April 26, 1934, Docket No. 48617. (Great W. Power Co. v. Commissioner)

lead-opinion

OPINION.

Van Fossan:

This proceeding was brought to redetermine defi'ciencies in the income taxes of the petitioner for the years 1924,1925, and 1926 in the amounts of $26,293.40, $187,883.90, and $133,333.99, respectively.

Several allegations of error were disposed of by stipulation, leaving for decision the following questions:

(1) The proper treatment of the sum of $245,363.