The respondent determined a deficiency in the income tax of petitioner for the year 1949 in the amount of $18,163.97.
The issue is whether all or any part of $62,043.77, the net proceeds of the settlement of a lawsuit received by the petitioner in 1949, represents taxable income.
FINDINGS OF FACT.
Facts stipulated by the parties are incorporated herein by reference as part of our findings.
Petitioner is a corporation...
Let's get started
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.
