Respondent determined a deficiency in income tax of petitioner for the year 1958 in the amount of $491,524.10.
The sole question for decision is whether income in the amount of $549,876.89 distributed by a Cuban joint farming venture in 1958 to Ainsley Associates, S.A., a Panamanian corporation, is includable in the income for that year of petitioner, its sole stockholder.
FINDINGS OF FACT
Some of the facts have been stipulated, and, as stipulated...
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.