AYMETT v. COMMISSIONER

Docket No. 41548.

13 T.C.M. 242 (1954)

Julian Aymett v. Commissioner.

United States Tax Court.

Entered March 23, 1954.


Attorney(s) appearing for the Case

W. C. Rodgers, Esq., 1001 Exchange Building, Memphis, Tenn., for the petitioner. J. Frost Walker, Esq., and W. Preston White, Jr., Esq., for the respondent.


Memorandum Findings of Fact and Opinion

JOHNSON, Judge:

This proceeding involves deficiencies in income tax and penalties as follows:

  Year        Deficiency  5% Penalty

  1948...... $ 8,726.47    $436.32
  1949......  12,621.56     631.08

The issues are whether the respondent erred in increasing the amount of income realized as commissions from sales of notes, and in imposing negligence penalties under section 293(a), I. R....

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