ROCKWOOD v. COMMISSIONER

Docket No. 20272.

10 T.C.M. 150 (1951)

Albert W. Rockwood v. Commissioner.

United States Tax Court.

Entered February 13, 1951.


Attorney(s) appearing for the Case

Benjamin C. Perkins, Esq., 22 Beacon St., Boston 8, Mass., for the petitioner. Leo C. Duersten, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

Respondent determined a deficiency in income and victory taxes for the year 1943 in the amount of $967.25. The only question in issue is whether the Commissioner erred in ruling that Section 107 (a) of the Internal Revenue Code was inapplicable to a payment of $15,000 received by petitioner in 1942. The year 1942 is involved in the computation of petitioner's taxes for 1943 by reason of the forgiveness feature of the Current...

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