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POTTER v. COMMISSIONER

Docket No. 15083.

7 T.C.M. 622 (1948)

George W. Potter v. Commissioner.

United States Tax Court.

Entered August 30, 1948.

Attorney(s) appearing for the Case

Robert S. Eastin, Esq., and W. E. Baird, C. P. A., 921 Dwight Bldg., Kansas City, Mo., for the petitioner. Frank M. Cavanaugh, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

JOHNSON, Judge:

The Commissioner determined a deficiency of $157,176.55 in petitioner's income tax for the period January 1 — November 30, 1941, by increasing the gain reported on the sale of 510 shares of stock in the Skelton Lead and Zinc Co. and by minor adjustments not in controversy. Petitioner contends that the Commissioner erred in assigning a value of $236,241.59 to a contract for profit-participation...

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