Superheater Co. v. Commissioner

The Superheater Company v. Commissioner.

Superheater Co. v. Commissioner

Docket No. 105403.

United States Tax Court

1943 Tax Ct. Memo LEXIS 402; 1 T.C.M. (CCH) 780; T.C.M. (RIA) 43129;

March 17, 1943

John W. Burke, Esq., for the petitioner. Henry C. Clark, Esq., for the respondent.

ARNOLD

Memorandum Findings of Fact and Opinion

ARNOLD, Judge: The sole question presented here is whether petitioner is taxable upon gain from the sale on February 10, 1937, of 19,000 shares of its own capital stock.

The Commissioner, as a result of certain adjustments, determined a deficiency in income tax for 1937 of…