GEORGE HAISS MANUFACTURING COMPANY v. COMMISSIONER

Docket No. 56779.

16 T.C.M. 1106 (1957)

T.C. Memo. 1957-241

George Haiss Manufacturing Company v. Commissioner.

United States Tax Court.

Filed December 30, 1957.


Attorney(s) appearing for the Case

William A. McSwain, Esq. and James O. Silliman, Esq., for the petitioner. Andrew Kopperud, Jr., Esq., for the respondent.


Memorandum Findings of Fact and Opinion

ATKINS, Judge:

The respondent determined deficiencies in income tax as follows:

              Year                         Deficiency

  Calendar year 1946 ..................    $10,663.66
  Period Jan. 1, 1947 to March 31, 1947      7,526.06
  Fiscal year ended March 31, 1948 ....     36,038.75
  Fiscal year ended March 31, 1949 ....     21,310.61

The principal issue is whether a transaction...

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