CHICAGO AND WESTERN INDIANA RAILROAD COMPANY v. COMMISSIONER

Docket No. 71833.

20 T.C.M. 479 (1961)

T.C. Memo. 1961-103

Chicago and Western Indiana Railroad Company v. Commissioner.

United States Tax Court.

Filed March 31, 1961.


Attorney(s) appearing for the Case

Charles F. Marquis, Esq., 38 South Dearborn St., Chicago, Ill., and Neil McKay, Esq., for the petitioner. Julian L. Berman Esq., for the respondent.


Memorandum Findings of Fact and Opinion

OPPER, Judge:

Respondent determined deficiencies in petitioner's income tax for 1950 and 1951 in the amounts of $361,191.04 and $326,882.60, respectively. Respondent concedes that a deficiency determined for 1949 was erroneous. The issues are: (1) Did petitioner fail to include in income the amounts of $1,038,403.65 for the taxable year 1950 and $682,339.63 for the taxable year 1951; (2) has respondent changed his...

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