Case Name: Federal Schools, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1927-02-18
Citations: 6 B.T.A. 179
Docket Number: Docket Nos. 9625, 13095
Parties: Federal Schools, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: 
Reporter: Reports of the United States Board of Tax Appeals
Volume: 6
Pages: 179–181

Head Matter:
Federal Schools, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket Nos. 9625, 13095.
Promulgated February 18, 1927.
L. M. Hirschtritt, Esq., for the petitioner.
Henry Bavenel, Esq., for the respondent.

Opinion:
OPINION.
Trammell:
As the result of the stipulation entered into, the only question for 1919 is whether the petitioner is entitled to have its profits taxes assessed under the provisions of section 328 of the Revenue Act of 1918. All other alleged errors were waived. The net income and invested capital for both 1919 and 1921 were stipulated.
From the evidence introduced we find no abnormalities of income or capital which would warrant the assessment of the taxes under the provisions of section 328. The taxes should, therefore, be assessed in accordance with the foregoing findings of fact.
Judgment will be entered on 15 days' notice, under Rule 50.