CURTIS v. COMMISSIONER OF INTERNAL REVENUE

No. 10037.

183 F.2d 7 (1950)

CURTIS v. COMMISSIONER OF INTERNAL REVENUE.

United States Court of Appeals, Seventh Circuit.

June 27, 1950.


Attorney(s) appearing for the Case

Charles B. Heinemann, Jr., Washington, D.C., for petitioner.

Theron Lamar Caudle, Assistant Attorney General, Ellis N. Slack, A. F. Prescott, Virginia H. Adams, Special Assistants to the Attorney General, for respondent.

Before KERNER, DUFFY, and FINNEGAN, Circuit Judges.


KERNER, Circuit Judge.

The petitioner seeks a review of the decision of the Tax Court determining a deficiency in his income tax for the year 1943. Petitioner prepared his returns on a cash calendar-year basis. He was a partner in a brokerage firm which was established by an agreement dated December 31, 1940. Each of the partners contributed to the business the use of a stock exchange membership as well as substantial capital. Pursuant to the agreement, each partner...

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