The respondent determined a deficiency of $866.11 in the income tax liability of the petitioner for the taxable year 1949. The petitioner claims an overpayment of $974.97. The sole issue presented by the pleadings is whether the sum of $8,000 received by the petitioner or paid for his account in settlement of certain litigation constitutes ordinary income, as the respondent has determined, or proceeds from the sale of capital assets, as reported by the petitioner.
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