THE FIRESTONE TIRE & RUBBER CO. v. COMMISSIONER

Docket No. 111707.

2 T.C. 827 (1943)

THE FIRESTONE TIRE & RUBBER COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated September 30, 1943.


Attorney(s) appearing for the Case

T. F. Doyle, for the petitioner.

W. W. Kerr, Esq., for the respondent.


OPINION.

STERNHAGEN, Judge:

The Commissioner determined a deficiency of $14,698.31 in petitioner's income tax for the fiscal year ending October 31, 1939. Admitting $1,399.41 of the deficiency to be correct, petitioner contests the remainder, which results from a determination of the basis for computing gain or loss in an exchange. The facts are stipulated and are found as stipulated.

The petitioner...

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