THE HOME SAVINGS AND LOAN COMPANY v. COMMISSIONER

Docket No. 91292.

39 T.C. 368 (1962)

THE HOME SAVINGS AND LOAN COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed November 7, 1962.


Attorney(s) appearing for the Case

Fred D. Kidder, Esq., and Thomas Quintrell, Esq., for the petitioner.

Buckley D. Sowards, Esq., for the respondent.


OPINION.

DAWSON, Judge.

Respondent determined a deficiency in petitioner's income tax for the year 1956 in the amount of $30,739.79. Petitioner's return for 1956, made on the cash basis and for a calendar year period, was filed with the district director of internal revenue, Cleveland, Ohio. The facts, completely stipulated by the parties, are not in dispute, and as stipulated are adopted as our findings of fact.

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