NEWBY v. COMMISSIONER

Docket No. 87795.

20 T.C.M. 1491 (1961)

T.C. Memo. 1961-283

A. Wesley Newby and Hilma L. Newby v. Commissioner.

United States Tax Court.

Filed October 9, 1961.


Attorney(s) appearing for the Case

Walter J. Lynwood, Esq., 7369 W. North Ave., Riverforest, Ill., for the petitioners. Theodore W. Hirsh, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

MULRONEY, Judge:

The respondent determined deficiencies in the petitioners' income tax for the years 1953, 1954 and 1955 in the respective amounts of $4,423.60, $829.02 and $3,842.94. Certain issues have been conceded by the parties. The only issue remaining before us is whether certain periodic payments received by petitioners in the years 1954 and 1955 in the respective amounts of $1,986.71 and $17,053.44 qualify...

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