Memorandum Findings of Fact and Opinion
DISNEY, Judge:
This proceeding involves income taxes in the amount of $17,259.32 and declared value excess-profits tax in the amount of $1,564.65, both for the calendar year 1939. Deficiencies were determined by the Commissioner in the above amounts. The only question presented is whether sums received by the petitioner during the calendar year in settlement of litigation constituted taxable income. From evidence,...
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