Respondent determined a deficiency in the income tax of A. P. Steckel for the year 1949 in the amount of $73,154.72. The disallowance of a deduction for a particular contribution is not contested. The issues for decision are whether the Commissioner correctly determined:
1. That A. P. Steckel realized additional long-term capital gain in 1949 in the approximate amount of $225,000 when said sum, to which Steckel was entitled in payment for common stock, was paid to...
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