SPANGLER v. COMMISSIONER

Docket Nos. 72720 and 84075.

20 T.C.M. 1783 (1961)

T.C. Memo. 1961-341

Harrison E. Spangler and Myrtle B. Spangler v. Commissioner.

United States Tax Court.

Filed December 26, 1961.


Attorney(s) appearing for the Case

H. Myron Gleason, Esq., Public Service Bldg., Portland, Ore., for the petitioners. Walter I. Auran, Esq., for the respondent.


Memorandum Opinion

SCOTT, Judge:

Respondent determined deficiencies in petitioners' income tax for the years 1952, 1953, 1955, and 1956 in the respective amounts of $3,021.12, $322.96, $16,808.15, and $309.70.

The issues presented for decision are:

1. Whether the amount received by petitioners in 1955 as their share of a settlement with one defendant while appeal from lower court decision in suit for rescission of sale of stock and restitution...

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