Memorandum Findings of Fact and Opinion
TRAIN, Judge:
Respondent determined a deficiency in petitioners' income tax for the calendar year 1955 in the amount of $7,312.83. The issue for decision is whether a redemption by H. C. Parker, Inc., of 53 of petitioners' 88 shares of that corporation's stock is "essentially equivalent to a dividend."
Findings of Fact
Some of the facts are stipulated and are hereby found as stipulated.
Herbert...
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