GRAVES v. COMMISSIONER

Docket No. 28049.

11 T.C.M. 467 (1952)

L. M. Graves v. Commissioner.

United States Tax Court.

Entered May 14, 1952.


Attorney(s) appearing for the Case

Robert J. Bird, Esq., and A. B. Raymer, Esq., for the petitioner. Paul E. Waring, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The respondent determined a deficiency in income and victory tax for the year 1943 in the amount of $71,511.60. Because of the provisions of the Current Tax Payment Act of 1943, the year 1942 is also involved.

The petitioner claims an overpayment of income tax for the year 1943.

Petitioner acquired all of the assets of Phoenix Mills, Inc., a New York corporation, in October 1942, and thereafter realized various...

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