GRANT v. COMMISSIONER

Docket No. 86493.

38 T.C. 493 (1962)

HARRY J. GRANT, JOHN DONALD FERGUSON, IRWIN MAIER, DONALD B. ABERT AND PETER KING, AS TRUSTEES OF THE TRUST UNDER JOURNAL EMPLOYEES' STOCK TRUST AGREEMENT DATED MAY 15, 1937, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed July 26, 1962.


Attorney(s) appearing for the Case

Richard B. Barker, Esq., and Edmund B. Shea, Esq., for the petitioner.

Rex A. Guest, Esq., for the respondent.


MULRONEY, Judge:

The respondent determined deficiencies of $21,318 in the petitioner's income tax for each of the years 1956 and 1957. The sole issue is whether petitioner realized taxable income in each of the years 1956 and 1957 through certain stock acquisitions.

FINDINGS OF FACT.

Some of the facts were stipulated and they are herein included by this reference.

Petitioner is a trust created under an agreement dated May 15, 1937...

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