Memorandum Findings of Fact and Opinion
HARRON, Judge:
Respondent determined deficiencies in income tax, declared value excess profits tax, and excess profits tax for 1941 in the respective amounts of $9,060.88, $1,197.89 and $5,862.69. The petition raises only one issue. It is whether petitioner is taxable in 1941 upon gain realized from the involuntary conversion of property into money. Petitioner's mill and inventory were destroyed by fire. It received...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.