Memorandum Findings of Fact and Opinion
The respondent determined a deficiency in petitioner's income tax for the calendar year 1941 in the amount of $4,279.52. In a statement attached to the deficiency notice, respondent explained his determination as follows:
It is held that the gains realized through the exchange of 160 shares of the capital stock of the National Waistband Company Inc. and 30 shares of the capital stock of H. W. E. Realty Company of Brooklyn...
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