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TANNER MFG. CO. v. COMMISSIONER

Docket No. 110068.

2 T.C.M. 305 (1943)

Tanner Mfg. Co. v. Commissioner.

United States Tax Court.

Entered June 19, 1943.

Attorney(s) appearing for the Case

Enoch C. Filer, Esq., Ariel Bldg., Erie, Pa., for the petitioner. W. J. McFarland, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

The respondent determined deficiencies of $580.06 and $307.06 in the income and excess-profits taxes, respectively, of the petitioner for the year 1938.

The sole issue is whether or not the petitioner realized taxable income from the cancellation by a stockholder of a debt of $5,231.74 due from the petitioner to the deceased husband of the stockholder and acquired by her under his will.

Findings of Fact

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