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OESTREICHER v. COMMISSIONER

Docket No. 36856.

20 T.C. 12 (1953)

CARL OESTREICHER, SOLE SURVIVING TRUSTEE OF TRUST UNDER THE WILL OF ISAAC OESTREICHER, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated April 6, 1953.

Attorney(s) appearing for the Case

Albert R. Dworkin, Esq., for the petitioner.

William G. O'Neill, Esq., for the respondent.

OPINION.

RAUM, Judge:

The petitioner filed a claim for refund of $536.25 of income taxes paid for the year 1945. The respondent determined that there was a deficiency in income taxes in the amount of $605.56 for that year. The only issue presented is whether an amount received by the petitioner, in partial retirement of a corporate obligation, was ordinary income or long-term capital gain pursuant to section 117 (f) of the Internal Revenue Code.

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