Memorandum Findings of Fact and Opinion
This proceeding involves a gift tax liability for the calendar year ended December 31, 1943. Petitioner requests a redetermination of the deficiency of $71,052.79 and a delinquency penalty of $14,456.62.
The first issue involved is whether the respondent erred in determining the value of 42,721 shares of the common stock of Foremost Dairies, Inc. (hereinafter referred to as Dairies), which was the subject of a gift...
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