Rudolph H. Beaver - Page 9

          and have found those arguments not discussed herein to be                   
          irrelevant and/or without merit.3  Accordingly,                             

                                                  Decision will be entered            
                                             for respondent.                          

               3 Although not cited by either party, we also have                     
          considered B.C. Cook & Sons, Inc. v. Commissioner, 59 T.C. 516              
          (1972).  That case is factually distinguishable from the case at            
          hand.  First, in B.C. Cook & Sons, the taxpayer’s inclusion of              
          the fictitious purchases in its cost of goods sold was erroneous            
          in that the taxpayer had not made an actual economic outlay for             
          those purchases.  Second, that case involved the claiming of two            
          deductions for two different items; i.e., (1) the cash for the              
          embezzlement for which the deduction was claimed and (2) the                
          fictitious purchases which were erroneously taken into the                  
          computation of costs of goods sold.                                         

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