M. CONLEY CO. v. COMMISSIONER

Docket No. 5833.

6 T.C. 250 (1946)

THE M. CONLEY COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated February 25, 1946.


Attorney(s) appearing for the Case

Albert B. Arbaugh, Esq., for the petitioner.

William F. Robinson, Esq., for the respondent.


This is a proceeding for the redetermination of a deficiency in income tax, declared value excess profits tax, and excess profits tax for the calendar year 1941 in the respective amounts of $1,734.92, $324.68, and $1,291.33. The sole issue is whether petitioner realized taxable income on its disposition of some of its stock. The case was submitted upon a stipulation of facts, exhibits, and oral testimony. The facts stipulated are so found. Other facts are found from the evidence...

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