Court of Appeals for the Second Circuit January 4, 1950, 21468_1 (Haywood Lumber & Mining Co. v. Commissioner of Internal Revenue)

SWAN, Circuit Judge.

The taxpayer is a personal holding company. The Commissioner determined deficiencies in personal holding company surtaxes for the years 1941 and 1942 and added thereto a 25% penalty, pursuant to § 291 of the Internal Revenue Code, for petitioner’s failure to file personal holding company returns for those years.