DYKE v. COMMISSIONER

Docket No. 5786.

6 T.C. 1134 (1946)

ALBERT E. DYKE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated May 23, 1946.


Attorney(s) appearing for the Case

James P. Quigley, Esq., for the petitioner.

Homer F. Benson, Esq., for the respondent.


This proceeding is for the redetermination of a deficiency in income tax for the calendar year 1941 in the amount of $56,248. The petitioner alleges that the respondent erred in treating his gain from the sale of 625 shares of Campbell Transportation Co. stock as a short term capital gain rather than as a capital gain realized upon the sale of securities held for a period of from 18 to 24 months, only 662/3 percent of which gain is includible in the gross income.

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