United States Tax Court June 20, 1974, Docket Nos. 2132-70, 2135-70, 8542-71, 6013-71, 7505-71. (Nugent v. Commissioner)

R. M. NUGENT, JR., ET AL., 1 Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Nugent v. Commissioner Docket Nos. 2132-70, 2135-70, 8542-71, 6013-71, 7505-71. United States Tax Court T.C. Memo 1974-161; 1974 Tax Ct. Memo LEXIS 158; 33 T.C.M. (CCH) 690; T.C.M. (RIA) 74161; June 20, 1974, Filed. *159 Rufus Wallingford and Herbert S. Kendrick, for the petitioners. Samuel W.