Memorandum Findings of Fact and Opinion
Respondent determined a deficiency in petitioner's income tax for the fiscal year ended August 31, 1945, in the amount of $22,579.90. The contested issue is whether in the taxable period involved the net income of three retail furniture stores which petitioner transferred to members of his family is taxable to petitioner.
In the event the validity of the transfers is upheld an alternative issue is whether petitioner...
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