BICKS, District Judge.
The taxpayers reported for Federal income tax purposes certain receipts (hereinafter more fully described) for the years 1948 and 1949 as capital gains. The Commissioner of Internal Revenue determined that they constituted ordinary income and assessed appropriate deficiencies which were paid. Refund thereof is sought in this suit.
Two issues of law and one of fact are presented: are the receipts in question taxable to plaintiffs as long...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.