United States Board of Tax Appeals, 1925

Farmers & Merchants State Bank v. Commissioner

Farmers & Merchants State Bank v. Commissioner
United States Board of Tax Appeals · Decided June 23, 1925 · Phillips, Graupner, Trammell
2 B.T.A. 130; 1925 BTA LEXIS 2538
Farmers & Merchants State Bank v. Commissioner

Opinion of the Court

*131OPINION.

Graupner:

The sum of $312.50 referred to in the findings was a balance remaining in connection with a capital stock transaction and does not constitute taxable income received by the taxpayer during 1920. The sum was erroneously included in net income, the correct taxable income being $6,381.41. The correct amount of the deficiency is $246.19.

Case-law data current through December 31, 2025. Source: CourtListener bulk data.