NEVADA OIL CO. v. COMMISSIONER

Docket No. 43588.

22 T.C. 630 (1954)

NEVADA OIL CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed June 22, 1954.


Attorney(s) appearing for the Case

Sam G. Winstead, Esq., for the petitioner.

J. Marvin Kelley, Esq., and James F. Hoge, Jr., Esq., for the respondent.


Respondent determined deficiencies in income tax as follows:

Year                                              Deficiency

1947 ------------------------------------------   $8,641.26
1948 ------------------------------------------    6,563.32

The only question for decision is whether amounts received by petitioner as installment payments on a judgment entered in its favor in 1944, nunc pro tunc October 6, 1943, were taxable...

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