HAMMOND v. COMMISSIONER

Docket No. 100456.

1 T.C. 198 (1942)

JAMES HAMMOND, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated December 8, 1942.


Attorney(s) appearing for the Case

W. G. Boone, Esq., for the petitioner.

Frank M. Thompson, Esq., for the respondent.


OPINION.

ARUNDELL, Judge:

The Commissioner determined income tax deficiencies for the years 1935 and 1936 in the amounts of $8,006.35 and $151,204.84, respectively, together with penalties for the respective years of $400.32 and $7,560.24. Upon stipulation of the parties a decision was entered on October 2, 1940, that there was a deficiency in income tax of $2,561.85 and a penalty of $128.09 for the year 1935. We are presently concerned with the deficiency...

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