United States Board of Tax Appeals June 23, 1925, Docket No. 1811. (Farmers & Merchants State Bank v. Commissioner)

lead-opinion

*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.