THALHIMER BROS., INC. v. COMMISSIONER

Docket No. 94476.

52 T.C. 659 (1969)

THALHIMER BROTHERS, INCORPORATED, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed July 22, 1969.


Attorney(s) appearing for the Case

LeRoy R. Cohen, Jr., for the petitioner.

Robert E. Lee, for the respondent.


FORRESTER, Judge:

Respondent has determined a deficiency in petitioner's Federal income taxes for the fiscal year ended January 31, 1959, in the amount of $61,245.43. Concessions have been made by both parties so that the only issue remaining for decision is whether petitioner is entitled to a long-term capital loss carryover arising out of its purchase and resale of its own shares.

FINDINGS OF FACT

Most of the relevant facts have been stipulated...

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