OPINION.
MURDOCK, Judge:
The Commissioner determined a deficiency of $281.25 in the income tax of the petitioner for 1945. The issue for decision is whether $70,241.21 which the petitioner received in 1945 from the Missouri-Kansas Pipe Line Company (herein called Mokan) was taxable as a dividend under section 115 (a) (2), Internal Revenue Code, or was a distribution in partial liquidation which must be treated as payment in exchange for the stock...
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