KLOUS v. COMMISSIONER

Docket Nos. 29820 and 29821.

11 T.C.M. 357 (1952)

Isadore P. Klous, transferee of 8-10 White Street Corporation v. Commissioner. Edward A. Stone, transferee of 8-10 White Street Corporation v. Commissioner of Internal Revenue, Respondent.

United States Tax Court.

Entered April 15, 1952.


Attorney(s) appearing for the Case

Russell S. Knapp, Esq., for the petitioners. Joseph F. Rogers, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

TIETJENS, Judge:

These consolidated proceedings involve the respondent's determination of an income tax deficiency of $5,475.46 against the 8-10 White Street Corporation for its taxable year 1944 and his determination of the liability, in such amount, of each petitioner as transferee of the assets of that corporation.

The issue presented is whether respondent erred in determining that a sale of certain real...

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