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SYKES v. COMMISSIONER

Docket No. 51063.

24 T.C. 1156 (1955)

CLEWELL SYKES AND KATHERINE N. SYKES, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed September 30, 1955.

Attorney(s) appearing for the Case

Fred L. Rosenbloom, Esq., and Thomas P. Glassmoyer, Esq., for the petitioners.

Stanley W. Herzfeld, Esq., for the respondent.

The respondent has determined a deficiency in the income tax of the petitioners for the calendar year 1950 in the amount of $1,125.58. Certain minor adjustments have not been challenged by the petitioners. The sole issue, involving $1,100.58 of the above deficiency, is whether the value of a 1950 Chevrolet automobile won by one of the petitioners at a drawing constituted taxable income.

FINDINGS OF FACT.

A stipulation...

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