The respondent determined deficiencies in petitioner's income tax for 1952 and 1953 in the respective amounts of $11,926.49 and $45,975.41. The deficiencies arose solely from the respondent's action in disallowing certain claimed deductions for depreciation expense and in increasing the gains realized upon certain properties sold, explained in the statutory notice as follows:
It has been determined that you owned an undivided one-half interest as tenant in common...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.