EARLE REAL ESTATE CO. v. COMMISSIONER

Docket No. 8677.

6 T.C.M. 667 (1947)

Earle Real Estate Co. v. Commissioner.

United States Tax Court.

Entered June 20, 1947.


Attorney(s) appearing for the Case

Lee C. Bradley, Jr., Esq., 2100 Comer Bldg., Birmingham 3, Ala., for the petitioner. John R. Stivers, Esq., for the respondent.


Opinion

KERN, Judge:

Respondent's determination of deficiencies in petitioner's income tax for the year 1943 in the sum of $67,688.72, and in declared value excess profits tax of $33,315.89, are here at issue. The greater part of these deficiencies arises by reason of respondent's determination that:

"(a) Net income for the year 1943 is increased in the amount of $264,032.06, in order to reflect gain realized on distribution and/or disposition of...

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