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KAVALARIS v. COMMISSIONER

Docket No. 4209.

5 T.C.M. 18 (1946)

Constantine H. Kavalaris v. Commissioner.

United States Tax Court.

Entered January 16, 1946.

Attorney(s) appearing for the Case

Carl G. Christensen, Esq., 1515 Rand Tower, Minneapolis, Minn., and A. E. Bryngelson, Esq., for the petitioner. E. Chester Adams, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

LEECH, Judge:

Respondent has determined a deficiency in income tax in the sum of $406.51 for the calendar year 1940. The issue is whether the admitted gain of $13,259.81, realized by petitioner upon the sale of a mixed aggregate of assets, constituting a restaurant and liquor business carried on by him, is taxable as ordinary or capital gain.

Findings of Fact

The petitioner is a resident of Minneapolis...

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