PHILLIPS, Circuit Judge.
This is a proceeding to review a decision of the Board of Tax Appeals, under which a deficiency of $143,892.11 was assessed against petitioner for the year 1920.
In 1920, the petitioner and certain associates owned a one-half interest in certain producing oil and gas properties in the State of Oklahoma. The other half interest was owned by the Kingwood Oil Company, a corporation, hereinafter called the corporation.
In August...
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