Memorandum Findings of Fact and Opinion
SMITH, Judge:
This proceeding is for the redetermination of a deficiency in income tax for the calendar year 1935 in the amount of $64,971.34 plus a five percent negligence penalty of $3,248.57. The petition alleges that the respondent erred in his determination that the petitioner realized a capital gain from the transfer in 1935 of shares of common and preferred stock of the Newark Morning Ledger Co. in settlement...
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