Case: Appeal of PETERS MANUFACTURING CO.
Abbreviation: Appeal of Peters Manufacturing Co.
Decision Date: 1925-05-21
Docket Number: Docket No. 2091
Citation: 1 B.T.A. 1198
Volume: 1
Reporter: Reports of the United States Board of Tax Appeals
Court: United States Board of Tax Appeals
Jurisdiction: United States
Parties: Appeal of PETERS MANUFACTURING CO.
Judges: Before Trammell, Phillies, and Love.
Pages: 1198–1200

Head Matter:
Appeal of PETERS MANUFACTURING CO.
Docket No. 2091.
Submitted April 13, 1925;
decided May 21, 1925.
Henry H. Bond, Esq., for the taxpayer.
Ellis W. Manning, Esq., for the Commissioner.
Before Trammell, Phillies, and Love.

Opinion:
OPINION.
Trammell:
The taxpayer has failed to produce evidence to substantiate its contention with respect to the deductions claimed, and the Commissioner's action in respect thereto is therefore approved.
The only question with respect to invested capital is the amount of the surplus, if any, of the New York branch of the business. The books were lost or destroyed and the taxpayer has established by competent evidence the contents thereof so far as material to this appeal.
We are satisfied from the evidence that the New York branch had a surplus for invested capital purposes for 1918 in the amount of $77,839.09 and for 1919 in the amount of $55,243.11, as claimed by the taxpayer. These amounts should be added to the invested capital found by the Commissioner for the respective years.