The Commissioner determined a deficiency of $3,857.90 in gift tax for the calendar year 1941. The petitioner's return showed net gifts for 1941 of $692,550. The Commissioner determined that the amount should be $708,675. His explanation of this adjustment was that the value of item 2 on the return was $234,375 instead of $231,000, as returned, and the value of item 3 on the return was $474,750 instead of $462,000, as returned. He further explained that "The fair market value...
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