J. K. Vise and Annie D. Vise v. Commissioner of Internal Revenue

THORNTON, District Judge.

This is a petition for review of the decision of the Tax Court of the United States finding deficiencies in income taxes and additions to tax with respect to the income tax of petitioner J. K. Vise for the years 1945-1948 inclusive, and of petitioners J. K. Vise and Annie D. Vise for the years 1949-1951 inclusive.

Appellants set forth four questions which they claim were answered erroneously by the Tax Court, thereby producing the conclusion we are requested to reverse on this review. Petitioners contend that there was no initial opening net worth base and, therefore,…