FINDLEY v. COMMISSIONER

Docket No. 23254.

10 T.C.M. 363 (1951)

H. W. Findley v. Commissioner.

United States Tax Court.

Entered April 18, 1951.


Attorney(s) appearing for the Case

Sidney B. Gambill, Esq., for the petitioner. Kalman A. Goldring, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The Commissioner determined deficiencies in income tax of $160,860.48 for 1943, $193,104.30 for 1944, and $199,364.50 for 1945. The deficiency for 1943 covered also victory tax. The issues for decision are: (1) Whether the petitioner is entitled to a deduction for percentage depletion for 1943 and 1944; (2) whether he is entitled to a deduction for 1945 representing a loss resulting...

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