United States Tax Court May 25, 1949, Docket No. 12908 (Mojonnier & Sons, Inc. v. Commissioner)

lead-opinion

OPINION.

Black, Judge-.

The principal question for determination in this proceeding is whether, for the purpose of determining the petitioner’s equity invested capital under section 718 (a) (2) of the Internal Revenue Code1 for the years 1942 and 1943, the petitioner is entitled to include property paid in for stock at cost to it when acquired on February 26,1930, at the time of its