Memorandum Findings of Fact and Opinion
Respondent determined a deficiency of $6,391.50 in petitioner's gift tax liability for the calendar year 1944, the deficiency resulting from respondent's valuation of the gifts, 8 per cent debenture bonds, at their face value rather than at 80 per cent of their face value, the figure which petitioner claims more accurately reflects their fair market value at date of valuation.
Findings of Fact
Petitioner...
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