DICKINSON, District Judge.
This is an income and excess profits tax case. The taxpayer corporation bought of some of its stockholders shares of stock, paying therefor less than its par value. It later sold the stock at a higher price. Was the difference between the selling and purchase price taxable income? The taxpayer thought not and excluded this sum from its taxable income return. The Commissioner thought otherwise, and served the taxpayer with a deficiency notice...
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