AZEVEDO v. COMMISSIONER

Docket Nos. 49896, 49928, 49929.

15 T.C.M. 543 (1956)

T.C. Memo. 1956-109

Robert Azevedo, et al. v. Commissioner.

United States Tax Court.

Filed May 7, 1956.


Attorney(s) appearing for the Case

Robert C. Burnstein, Esq., 414 Thirteenth Street, Oakland, Calif., for the petitioners. Edward H. Boyle, Jr., Esq., for the respondent.


Memorandum Findings of Fact and Opinion

HARRON, Judge:

The Commissioner determined deficiencies in income tax for the year 1946 as follows:

  Docket No.    Taxpayer            Deficiency

    49896     R. Azevedo .......    $65,020.05
    49928     I. Kershaw .......     27,108.10
    49929     P. Kershaw .......     25,943.07

The chief question is whether net profit of $202,113.82 from...

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