STROUPE v. COMMISSIONER

Docket No. 2911-76.

37 T.C.M. 280 (1978)

T.C. Memo. 1978-55

Harold F. Stroupe and Elizabeth S. Stroupe v. Commissioner.

United States Tax Court.

Filed February 14, 1978.


Attorney(s) appearing for the Case

Richard D. Hall, Jr., 108 Commerce Plaza, Greensboro, N.C., for the petitioners. William S. Patterson, for the respondent.


Memorandum Findings of Fact and Opinion

FEATHERSTON, Judge:

Respondent determined deficiencies in the amounts of $63,934 and $73,703 in petitioners' Federal income taxes for 1971 and 1972, respectively. Petitioners have conceded one issue, and the issues remaining for decision are:

1. The proper date for the valuation of the Food Town Stores, Inc., restricted, unregistered stock which petitioners received...

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