This proceeding involves a deficiency in income tax of petitioners' decedent and decedent's wife for the period January 1, 1948, to October 8, 1948, in the amount of $30,271.73.
The sole issue is whether petitioners' decedent, Lauson Stone, realized taxable income by way of additional compensation in 1948 as a result of a sale in that year of stock purchase warrants of the Follansbee Steel Corporation.
Many of the facts have been stipulated and are found accordingly...
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