Attorney(s) appearing for the Case
Carlisle B. Roberts, Assistant Attorney General, Salem, argued the cause for appellant. With him on the brief were Robert Y. Thornton, Attorney General, and Carl N. Byers, Assistant Attorney General, Salem.
Darst B. Atherly, Eugene, argued the cause for respondents. With him on the brief were Thwing, Ferris, Atherly & Butler, Eugene.
Before McALLISTER, Chief Justice, and PERRY, SLOAN, O'CONNELL, GOODWIN, DENECKE and HOLMAN, Justices.
Supreme Court of Oregon.
REVERSED.
O'CONNELL, J.
This is a suit to set aside an order of defendant assessing a tax deficiency against plaintiffs. Defendant appeals from a decree of the Oregon Tax Court overruling defendant's demurrer to plaintiffs' complaint. 2 OTC Adv Sh 49 (Dec. 1964).
Plaintiffs sold certain property at a price which resulted in a capital gain. The full amount of the capital gain was applied upon the purchase price of residential property for plaintiffs...
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