By this proceeding petitioner seeks a redetermination of a deficiency of $51,818.06 in gift tax for the year 1942. A penalty for delinquent filing of $12,954.52 is also involved. Respondent now concedes the valuation used in arriving at the deficiency to be excessive, and that in the event a taxable gift is found, the amount should be reduced accordingly.
The primary question is whether transfers of partnership interests between members of a family resulted in taxable...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
