P. H. & J. M. BROWN COMPANY v. COMMISSIONER

Docket No. 55073.

18 T.C.M. 708 (1959)

T.C. Memo. 1959-162

The P. H. and J. M. Brown Company v. Commissioner.

United States Tax Court.

Filed August 20, 1959.


Attorney(s) appearing for the Case

Carl F. Bauersfeld, Esq., for the petitioner. James E. Markham, Jr., Esq., for the respondent.


Memorandum Findings of Fact and Opinion

OPPER, Judge:

Respondent determined deficiencies in petitioner's income tax of $4,300.51, $4,252.65, $4,932.14 and $5,239.23 for the years 1947 through 1950, respectively. By amended answers respondent proposed an increased deficiency for 1949 of $35,510.45, making $40,442.59 the total amount in issue for that year.

The sole issue is the amount of gain or loss realized by petitioner from the sale of property...

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