Van Vorst v. Commissioner

opinion.

Murdock:

The Commissioner determined a deficiency of $26,-720.79 in the decedent’s income tax liability for the year 1924. The petitioner alleges that the Commissioner erred in including in the gross income of the decedent the difference between the fair market value of the property purchased by him in that year and the amount he paid for it.

The petitioner is the executor of the estate of C. B. Van Vorst, deceased, and has his principal office in Los Angeles, Calif. In 1924 C. B. Van Vorst was the president of the C. B. Van Vorst Company.

The Commissioner stated in his deficiency…