United States Board of Tax Appeals September 26, 1941, Docket No. 102047. (Brown Shoe Co. v. Commissioner)

lead-opinion

*214OPINION.

Leech :

Respondent has taxed the petitioner upon the difference on the price it paid and that received for its stock sold in the taxable year to its president and certain employees. Whether authority existed for this action presents the only issue.

The Revenue Act of 1936 applies.