MANAGERS DISCOUNT CORPORATION v. COMMISSIONER

Docket No. 108824.

1 T.C.M. 688 (1943)

Managers Discount Corporation v. Commissioner.

United States Tax Court.

Entered February 27, 1943.


Attorney(s) appearing for the Case

Harold H. Bredell, Esq., 115 N. Pennsylvania St., Indianapolis, Ind., for the petitioner. John D. Kiley, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

TURNER, Judge:

The respondent has determined deficiencies in income tax and excess profits tax against the petitioner for the year 1937 in the respective amounts of $5,379.99 and $2,145.17.

The only issue raised by the pleadings is whether the respondent is in error in determining the value of certain stock received by the petitioner in exchange of securities.

Findings of Fact

Some of the...

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