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SNOW v. COMMISSIONER

Docket No. 30121.

12 T.C.M. 1281 (1953)

John W. Snow, Jr. v. Commissioner.

United States Tax Court.

Entered November 10, 1953.

Attorney(s) appearing for the Case

Eugene E. Gilmer, Esq., 506-7 Frank Nelson Building, Birmingham, Ala., for the petitioner. D. Louis Bergeron, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

The Commissioner has computed petitioner's income for the taxable years 1946, 1947, and 1948 by application of the so-called "net worth increase" method. He has determined deficiencies in petitioner's income taxes for those years and has added negligence penalties, as follows:

                                     5% Negligence
  Year                  Deficiency      Penalty

  1946 .............    $  570.54...

                    
                    
                    

                        

                            

                                
                            

                            

                                

                                    
    
                                        
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