Respondent determined a deficiency of $396,476.84 in petitioner's income taxes for the fiscal year ended June 30, 1948. The sole issue is whether the net amount of $1,043,360.11 received by petitioner during the period in controversy in a compromise settlement of claims for damages arising under the antitrust laws is includible, in whole or in part, in petitioner's taxable income under section 22 (a) of the Internal Revenue Code.
FINDINGS OF FACT.
Some of...
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.
