United States Tax Court October 21, 1960, Docket No. 59184 (Colt's Mfg. Co. v. Commissioner)

lead-opinion

BRUCE, Judge:

The respondent determined a deficiency in petitioner’s income tax for the taxable year 1952 in the amount of $39,227.88. In his deficiency notice respondent allowed a deduction for the additional Connecticut State corporation excise tax which resulted from respondent’s adjustment of petitioner’s net income.