Helvering v. Seatree

VAN ORSDEL, Associate Justice.

This is an appeal from decisions of the Board of Tax Appeals involving- consolidated proceedings for the determination of deficiencies of income taxes in the sums of $9,-207.60, $4,012.69, and $5,111.88 for the years 1922, 1923, and 1924, respectively.

It appears that for several years prior to 1920 appellee, Seatree, had been a member of the accounting firm of Price, Waterhouse & Co., of New York, consisting of nineteen partners. In addition to the cash capital contributed by the partners, there was recognized a valuable good will belonging to six senior members,…