The respondent has determined a deficiency in income tax against the petitioners for the taxable year 1956 in the amount of $547,967.55 and an addition to tax for fraud for such year in the amount of $273,983.78. Since the deficiency relates solely to the income of Charles Oran Mensik, he will hereafter be referred to as petitioner. The questions for decision are:
(1) Whether petitioner realized income as the result of payments by City Savings Association to Melvin...
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