CARTER v. COMMISSIONER

Docket No. 52795.

16 T.C.M. 280 (1957)

T.C. Memo. 1957-65

Bernard B. Carter (B. B. Carter) and Tommie Velma Carter, Husband and Wife v. Commissioner.

United States Tax Court.

Filed April 25, 1957.


Attorney(s) appearing for the Case

Wentworth T. Durant, Esq., for the petitioners. Robert B. Wallace, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The respondent has determined a deficiency in income tax of the petitioners in the amount of $17,746.83 for the year 1948. The deficiency results from numerous adjustments, some of which are not contested.

The petitioners contest the following adjustments: (1) increase in cattle sales by $3,146.29; (2) increase in value of cattle inventory on December 31, 1948, and adding both opening and closing grain inventories...

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