FERGUSON v. COMMISSIONER

Docket No. 92137.

47 T.C. 11 (1966)

JOSEPH B. FERGUSON, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed October 17, 1966.


Attorney(s) appearing for the Case

Leonard Belford and Harvey M. Sklaver, for the petitioner.

Warren S. Shine and Paul H. Frankel, for the respondent.


HOYT, Judge:

Respondent determined an income tax deficiency against petitioner, Joseph B. Ferguson, for the year 1959 in the amount of $1,191.52. In various amendments to his answer filed herein, respondent asserted certain increased deficiencies totaling in excess of $310,000.

After various concessions by respondent at trial and on brief, the only questions remaining for decision are: (1) Whether certain payments totaling $132,592 made by Fergus Imported...

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