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SCHAHET v. COMMISSIONER

Docket Nos. 62201, 62202.

18 T.C.M. 243 (1959)

T.C. Memo. 1959-51

Samuel S. Schahet and Ruby Schahet v. Commissioner. Albert G. Reuben and Sara Reuben v. Commissioner.

United States Tax Court.

Filed March 18, 1959.

Attorney(s) appearing for the Case

Harold R. Burnstein, Esq., and John W. Hughes, Esq., 105 W. Adams Street, Chicago, Ill., for the petitioners. Hubert E. Kelly, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

Respondent determined deficiencies in petitioners' income taxes for the taxable year 1952 as follows:

  Dkt. No.      Petitioner       Deficiency

   62201    Samuel S. and Ruby
             Schahet .........   $51,819.72
   62202    Albert G. and Sara
             Reuben ..........    32,059.18

The only question is whether the capital stock of Weather Guard Company, Inc., had a fair market value...

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