Barlow v. Commissioner

Lester P. Barlow v. Commissioner.

Barlow v. Commissioner

Docket No. 111717.

United States Tax Court

1943 Tax Ct. Memo LEXIS 300; 2 T.C.M. (CCH) 133; T.C.M. (RIA) 43237;

May 19, 1943

Joseph R. McCuen, Esq., for the petitioner. L. W. Creason, Esq., for the respondent.

STERNHAGEN

Memorandum Findings of Fact and Opinion

The Commissioner determined a deficiency of $86,718.15 in petitioner's income tax for 1940. The Commissioner (1) refused to apply the 50 per cent capital gain provision of Section 117, Internal Revenue Code, to an amount received by petitioner from the United States in payment of a claim…