Memorandum Findings of Fact and Opinion
HARRON, Judge:
The respondent determined a deficiency in income tax for the year 1940 in the amount of $3,881.04. Not all of the adjustments are in dispute. The only issue is whether the sum of $7,500 received by petitioner during the taxable year from a corporation of which was president and principal stockholder was a gift or a bonus in the nature of additional compensation for services rendered.
Petitioner...
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