JOURNAL PUBLISHING CO. v. COMMISSIONER

Docket No. 756.

3 T.C. 518 (1944)

JOURNAL PUBLISHING COMPANY, A CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated March 27, 1944.


Attorney(s) appearing for the Case

Thomas B. Stoel, Esq., for the petitioner.

E. A. Tonjes, Esq., for the respondent.


This proceeding involves a deficiency in excess profits taxes for the calendar year 1940 in the amount of $2,756.42.

The only issue is whether the written contract entered into on August 20, 1939, by petitioner, a newspaper publisher, and a competitor, whereby the former agreed to pay the latter stated sums of money in installments over a period of years extending to and including October 1, 1950, in consideration of the sale and transfer by the latter of some of...

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