CLUETT, PEABODY & CO. v. COMMISSIONER

Docket No. 112444.

3 T.C. 169 (1944)

CLUETT, PEABODY & CO., INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated January 31, 1944.


Attorney(s) appearing for the Case

Norris Darrell, Esq., for the petitioner.

Harold D. Thomas, Esq., for the respondent.


A deficiency of $40,699.02 in 1937 income tax was determined as the result of several adjustments. The taxpayer assails only a determination that gain was realized on the sale of treasury stock. The case was submitted on a stipulation of facts, and they are found substantially as requested by the Commissioner.

FINDINGS OF FACT.

Petitioner is a corporation organized under the laws of the State of New York, with its...

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