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LAUGHINGHOUSE v. COMMISSIONER

Docket No. 26282.

12 T.C.M. 1410 (1953)

C. W. Laughinghouse and Ruby E. Laughinghouse, his wife v. Commissioner.

United States Tax Court.

Entered December 14, 1953.

Attorney(s) appearing for the Case

Claude L. Gray, Esq., Box 433, Orlando, Fla., and Dorothea Watson, Esq., for the petitioners. D. Z. Cauble, Jr., Esq., for the respondent.

Memorandum Findings of Fact and Opinion

TIETJENS, Judge:

The respondent determined the following deficiencies for the year 1944:

                    50% addition to
    Income tax       tax (Sec. 293)
    $13,212.13         $6,606.07

These deficiencies were determined by the increase in net worth method. The petitioners alleged error in three respects: (1) that the respondent should not have included $10,000 in cash because that...

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