Memorandum Findings of Fact and Opinion
The Commissioner determined a deficiency of $10,910.83 in income tax of the petitioner for 1947. The issue for decision is whether $31,250, which the petitioner received in 1947 as the result of an out-of-court settlement of a law suit, is ordinary income, capital gain, or a return of capital.
Findings of Fact
The petitioner filed his individual income tax return for 1947 with the collector of internal revenue...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
