
    Appeal of JOE SIEGEL, INC.
    Docket No. 1739.
    Submitted April 1, 1925;
    decided May 6, 1925.
    
      Harry Friedman, Esq., for the taxpayer.
    
      A. Colder Mackay, Esq., for the Commissioner.
    Before Graupner, LaNSDON, and GkeeN.
    This is an appeal from a determination of a deficiency in income tax for the calendar year 1922. The appeal presents in substance the same question passed upon by this Board in the appeals of the Oar-roTl Chain Co., 1 B. T. A. 38, and the Patapsco Ballast Co., 1 B. T. A. 1081. From the allegations of the petition which were admitted by the answer of the Commissioner, we make the following
    FINDINGS OF FACT.
    The taxpayer is a New York corporation. On December 11, 1924, the taxpayer received the usual deficiency letter asserting a deficiency in the sum of $479.66. This corporation was organized early in the year 1921, having filed its certificate of incorporation on January 3 of that year and having received its authorization to do business on the 7th day of January. The corporation sustained a net loss of $5,344.97 in 1921, and so reported in its income-tax return. In its income-tax return for 1922 it set up the net loss for the year 1921 as a deduction, and after taking such deduction showed a net income of $492.32. The Commissioner disallowed the net-loss deduction upon the theory that the taxpayer had not had a full taxable year 1921.
   DECISION.

The deficiency determined by the Commissioner is disallowed.  