Memorandum Findings of Fact and Opinion
JOHNSON, Judge:
Respondent determined a deficiency in petitioner's income tax for the period January 1, 1950, to October 18, 1950, in the amount of $65,614.78. The issue is whether in a liquidation and distribution of corporate assets there was a taxable gain to the liquidated corporation.
Findings of Fact
Cosby Realty Company, Inc., sometimes hereinafter referred to as the petitioner or the Realty...
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