Allen v. Commissioner

NORTHCOTT, Circuit Judge.

This is a petition for review of a decision of the United States Board of Tax Appeals involving a deficiency assessed against the petitioner, George Edward Allen, in income taxes for the year 1934 in the amount of Seven Hundred Seventy-Five Dollars and Fifty-Nine Cents ($775.-59). The.decision of the Board was entered on March 30, 1939.

Petitioner is engaged in the practice of law in the City of Richmond, Virginia, and in March, 1934, fifteen thousand shares of the common stock of the Virginia Airship Company, a Virginia corporation, par value One Dollar ($1) per…