GILBERT v. COMMISSIONER

Docket No. 6426-72.

35 T.C.M. 451 (1976)

T.C. Memo. 1976-104

Edward M. Gilbert v. Commissioner.

United States Tax Court.

Filed April 1, 1976.


Attorney(s) appearing for the Case

Frank G. Raichle, 10 Lafayette, Buffalo, N.Y., for the petitioner. Larry Kars, for the respondent.


Memorandum Findings of Fact and Opinion

QUEALY, Judge:

The respondent determined a deficiency in the Federal income tax return of the petitioner in the amount of $1,467,536.51 for the taxable year 1962. The issues for our decision are as follows:1

1. Whether the petitioner must include in his income for the taxable year 1962 unauthorized withdrawals that he made from E.L. Bruce Co., Inc.

2. If so, what amount...

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