RIDDLESBARGER v. COMMISSIONER

Docket No. 19587.

16 T.C. 820 (1951)

RUFUS RIDDLESBARGER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated April 19, 1951.


Attorney(s) appearing for the Case

Lewis D. Spencer, Esq., and Tim G. Lowry, Esq., for the petitioner.

Charles D. Leist, Esq., for the respondent.


Respondent has determined a deficiency of $104,579.80 in the income tax of petitioner for the taxable year ended December 31, 1943. The deficiency results from the respondent's addition of the sum of $138,611.05 to the petitioner's 19421 income, which amount respondent has determined as the fair market value of 2,177 shares of Lanteen Realty Company common stock and the gain on the $50 in cash received in 1942 by petitioner from Lanteen Laboratories...

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