Gallo v. Commissioner

John Gallo and Alide M. Gallo v. Commissioner.

Gallo v. Commissioner

Docket No. 57792.

United States Tax Court

T.C. Memo 1959-65; 1959 Tax Ct. Memo LEXIS 187; 18 T.C.M. (CCH) 333; T.C.M. (RIA) 59065;

March 31, 1959

Jacob Whitkin, Esq., 294 Washington Street, Boston, Mass., for the petitioners. Raymond T. Mahon, Esq., for the respondent.

OPPER

Memorandum Findings of Fact and Opinion

OPPER, Judge: Respondent determined a deficiency in petitioners' income tax for 1950 of $35,484.38. The sole question presented is whether income in the amount of $71,640.90 received in 1950 pursuant to a judgment is…