LYDON v. C. I. R.

No. 14825.

351 F.2d 539 (1965)

William D. LYDON and Myrtle I. Lydon, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Seventh Circuit.

October 6, 1965.


Attorney(s) appearing for the Case

Edward J. Calihan, Jr., Allan J. Smietanka, Joseph G. Smietanka, Chicago, Ill., for petitioners.

Louis F. Oberdorfer, Asst. Atty. Gen., Tax Div., Carolyn R. Just, Lee A. Jackson, I. Henry Kutz, Attys., Dept. of Justice, Washington, D. C., for respondent.

Before DUFFY and KNOCH, Circuit Judges, and MAJOR, Senior Circuit Judge.


DUFFY, Circuit Judge.

The Commissioner of Internal Revenue determined deficiencies in income tax and additions to tax against the petitioners1 for the years 1953, 1954 and 1955. The amount assessed was $85,703.83 plus a 50% penalty.

In a decision dated April 15, 1964, the Tax Court held there were deficiencies in income tax for the calendar year 1953 in the amount of $23,574.20, for 1954 in the amount of $6,172.92 and for 1955...

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