Eisendrath v. Commissioner

1. Where the Commissioner sent a deficiency notice addressed in the name of a deceased taxpayer and the executors filed a petition with this Board based upon such deficiency notice, they not having filed with the Commissioner prior to the date of the mailing of the deficiency letter a notice that they were acting in a fiduciary capacity, the Board has jurisdiction of the proceeding brought by the executors. 2. Held, upon the evidence, that certain stock received by the stockholders in the reorganization of a corporation did not have a readily realizable market value at the time received by…