Montgomery Bros. & Co. v. Commissioner

APPEALS OF MONTGOMERY BROS. & CO.

Montgomery Bros. & Co. v. Commissioner

Docket Nos. 5571, 8320.

United States Board of Tax Appeals

5 B.T.A. 258; 1926 BTA LEXIS 2902;

October 29, 1926, Decided

Evidence held insufficient to establish value of property at the time it was turned in for stock.

E. C. Gruen, C.P.A., for the petitioner.

Joseph K. Moyer, Esq., for the Commissioner.

TRAMMELL

These are appeals from determinations of deficiencies in income and profits taxes for the calendar years 1919 and 1920, in the respective amounts of $6,167.40 and $9,418.56. At the hearing taxpayer withdrew two of the…