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JUNIOR AMUSEMENT CO. v. COMMISSIONER

Docket No. 49684.

15 T.C.M. 577 (1956)

T.C. Memo. 1956-115

Junior Amusement Co. v. Commissioner.

United States Tax Court.

Filed May 10, 1956.

Attorney(s) appearing for the Case

M. C. Delle, Esq., and Winfield G. Boyd, C. P. A., Box 408, Yakima, Wash., for the petitioner. Gordon N. Cromwell, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

WITHEY, Judge:

The Commissioner has determined a deficiency in income tax against petitioner, Junior Amusement Co., for the taxable year 1949 in the amount of $19,106.75. By its pleading, petitioner asserts an overpayment of income tax for the same year in the amount of $8,665.58. The sole issue for our decision is the fair market value of the capital stock of Yakima Community Hotel, Inc., received by petitioner in...

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