STRAIGHT v. COMMISSIONER

Docket Nos. 43450 and 43451.

21 T.C. 1008 (1954)

MERTON T. STRAIGHT, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. MERTON T. STRAIGHT AND ELIZABETH STRAIGHT, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated March 25, 1954.


Attorney(s) appearing for the Case

Richard E. Williams, Esq., for the petitioners.

Mark Townsend, Esq., for the respondent.


FINDINGS OF FACT AND OPINION.

Respondent determined deficiencies in income tax of $1,661.50 for 1947 and $8,211.64 for 1948.

The sole issue for decision is whether respondent erroneously treated as ordinary income petitioners' share in the income of Iowa Soya Company. Other adjustments are conceded and can be reflected in a Rule 50 computation.

FINDINGS OF FACT.

Some of the facts have been stipulated and are found accordingly. Petitioners...

Let's get started

Leagle.com

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.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases