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SMITH v. C. I. R.

No. 21390.

338 F.2d 627 (1964)

Harold F. SMITH and Gertrude Smith, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fifth Circuit.

November 27, 1964.

Attorney(s) appearing for the Case

R. M. Ginsberg, Dallas, Tex., Lefkowitz, Green, Ginsberg, Eades & Gilmore, Dallas, Tex., for petitioners.

Edward L. Rogers, Atty., Louis F. Oberdorfer, Asst. Atty. Gen., Dept. of Justice, Charles S. Casazza, Atty., Sheldon S. Cohen, Chief Counsel, I. R. S., Lee A. Jackson, Atty., Meyer Rothwacks, Morton K. Rothschild, Dept. of Justice, Washington, D. C., for respondent.

Before TUTTLE, Chief Judge, and BROWN and GEWIN, Circuit Judges.

PER CURIAM.

Although this Court has on occasion differed with the Tax Court in determining whether sales by a taxpayer of parcels of real estate are sales of property held primarily for sale to customers in the ordinary course of trade or business, see Smith v. Commissioner of Internal Revenue, 5 Cir., 232 F.2d 142, the record in this case does not warrant such disposition. The inferences drawn by the Tax Court were fully warranted...

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