BOLDT, District Judge.
Plaintiff taxpayers were the sole owners of all of the outstanding capital stock of I. E. Powers, Inc., a corporation engaged primarily in the importation of power saws, incorporated July 18, 1945 and dissolved under the laws of the state of incorporation August 31, 1953. All corporate assets were distributed to plaintiffs at book value and for income tax purposes capital gains treatment was allowed for all assets listed in the liquidation-dissolution...
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