Respondent determined a deficiency in petitioner's income tax for the calendar year 1954 in the amount of $82,313.98.
The question is whether petitioner realized a long-term capital gain as a result of the transfer of 8,700 shares of the stock of another corporation, held by petitioner, in exchange for 1,609¾ shares of its own stock owned by a former officer-employee and his wife.
FINDINGS OF FACT.
Some of the facts are stipulated, the stipulation...
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