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HANCOCK v. COMMISSIONER

Docket No. 66706.

31 T.C. 752 (1959)

L. D. HANCOCK AND ELAINE HANCOCK, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed January 21, 1959.

Attorney(s) appearing for the Case

Carl F. Bauersfeld, Esq., for the petitioners.

Lester R. Uretz, Esq., for the respondent.

TIETJENS, Judge.

This proceeding involves a deficiency in income tax for the calendar year 1953 in the amount of $1,743.62.

The only issue for decision is whether cattle sold by petitioners during the taxable year were held for sale to customers in the ordinary course of business or were held for breeding purposes within the meaning of section 117(j) of the 1939 Internal Revenue Code.

FINDINGS OF FACT...

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