RALPH W. SIMMERS AND SON, INC. v. COMMISSIONER

Docket No. 7115-65.

27 T.C.M. 739 (1968)

T.C. Memo. 1968-150

Ralph W. Simmers and Son, Inc. v. Commissioner.

United States Tax Court.

Filed July 16, 1968.


Attorney(s) appearing for the Case

Stanley Worth and Jules G. Körner, III, Suite 700, Brawner Bldg., 888 Seventeenth St. N. W., Washington, D. C., for the petitioner. Hobart Richey, for the respondent.


Memorandum Findings of Fact and Opinion

The respondent determined deficiencies in the income tax of the petitioner for the calendar years 1963 and 1964 in the respective amounts of $57,985.15 and $7,032.52. At the hearing of this case the petitioner conceded the correctness of the respondent's determination of deficiency for 1964. The only issue remaining for our decision relates to the determination by the respondent that real estate sold by the petitioner in 1963...

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