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WELLS FARGO BANK & UNION TRUST CO. v. COMMISSIONER

Docket No. 6932.

7 T.C. 556 (1946)

CLARA HELLMAN HELLER TRUST No. 7610, WELLS FARGO BANK & UNION TRUST COMPANY, TRUSTEE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated August 15, 1946.

Attorney(s) appearing for the Case

Lloyd W. Dinkelspiel, Esq., for the petitioner.

A. James Hurley, Esq., for the respondent.

OPINION.

MURDOCK, Judge:

The Commissioner determined a deficiency of $26,119.22 in income tax for the calendar year 1941. The issues for decision are (a) whether the Commissioner erred in disallowing a part of a deduction of $56,000 paid by the petitioner in 1941 to a lessee to cancel a lease so that it could enter into a more desirable contract with the United States Government for a lease of the premises...

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