Case Name: Appeal of E. C. MINES LITHOGRAPHING CO.
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1925-02-13
Citations: 1 B.T.A. 588
Docket Number: Docket No. 468
Parties: Appeal of E. C. MINES LITHOGRAPHING CO.
Judges: Before James, Steiinhagen, and Tmtssell.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 1
Pages: 588–589

Head Matter:
Appeal of E. C. MINES LITHOGRAPHING CO.
Docket No. 468.
Submitted January 17, 1925;
decided February 13, 1925.
Joseph A. O’Brien, Esq., for the taxpayer.
A. H, Fast, Esq. (Nelson T. Hartson, Solicitor of Internal Revenue) for the Commissioner.
Before James, Steiinhagen, and Tmtssell.

Opinion:
DECISION.
The amount of taxable income received by the taxpayer in settlement of its claim against the judgment debtor is the difference between the market value of the shares of stock received, namely, $8,250, and the amount paid by the taxpayer in 1910 as the cost of procuring the judgment, namely, $115.84.
The deficiency in tax should be recomputed in accordance with the foregoing. Final decision will be settled either on consent or on 10 days' notice in accordance with Rule 50.