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DR. PEPPER BOTTLING CO. OF MISS. v. COMMISSIONER

Docket No. 109125.

1 T.C. 80 (1942)

DR. PEPPER BOTTLING CO. OF MISS., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated November 19, 1942.

Attorney(s) appearing for the Case

Allen Wight, Esq., for the petitioner.

Frank B. Appleman, for the respondent.

Petitioner seeks a redetermination of deficiencies in its income and excess profits tax for the year 1937 in the amounts of $1,255.11 and $426, respectively.

The only question presented for our determination is whether petitioner, having purchased shares of its own stock in 1935, realized taxable income in 1937 when it sold such stock at a price in excess of that paid.

FINDINGS OF FACT.

The stipulated facts...

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