ATWELL, District Judge.
Well, the difference between you gentlemen is largely based upon a word which is not underscored in the statute — one would italicize it and the other would just leave it as it is.
What Congress had in mind in 26 U.S. C.A. § 117 presents a difficulty in unraveling the respective positions taken by the income tax authorities and the citizen with reference to whether a transaction was capital gain or ordinary income. One goes...
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