THOMSEN, Chief Judge.
This is an action for the recovery of deficiencies in excess profits tax, assessed against and paid by taxpayer with respect to its fiscal years ending November 30, 1950, and November 30, 1953.
The question presented is whether certain payments which taxpayer received from the "Racing Fund" during the fiscal years in question were "abnormal income", as that term is defined in sec. 456, I.R.C.1939, which was...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
