United States Tax Court March 28, 1944, Docket No. 112390 (Matthews v. Commissioner)

lead-opinion

Smith, Judge:

This proceeding involves an estate tax deficiency of $21,009.01, all of which, is in controversy. The questions for our determination are:

(1) The valuation, for estate tax purposes, of certain corporate shares which decedent owned at the time of his death but which under the terms of an existing agreement a business associate had an option to purchase within a stated