RAYTHEON PRODUCTION CORPORATION v. COMMISSIONER

Docket No. 110380.

1 T.C. 952 (1943)

RAYTHEON PRODUCTION CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated April 15, 1943.


Attorney(s) appearing for the Case

Edward C. Thayer, Esq., for the petitioner.

James T. Haslam, Esq., for the respondent.


The respondent determined deficiencies of $46,894.24 and $15,772.64 in the petitioner's income tax and excess profits tax, respectively, for its fiscal year ending May 31, 1938.

The sole original issue is the taxability of the sum of $350,000 received by the petitioner from the Radio Corporation of America as a part of the amount paid in settlement of litigation between it and the petitioner.

By an amendment to his answer the respondent has raised two additional...

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