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UNITED STATES v. TEMPLE

Nos. 21822, 21823.

355 F.2d 67 (1966)

UNITED STATES of America, Appellant, v. Fred D. TEMPLE, Appellee.

United States Court of Appeals Fifth Circuit.

January 7, 1966.

Attorney(s) appearing for the Case

Thomas Stapleton, Atty., Dept. of Justice, Louis F. Oberdorfer, Asst. Atty. Gen., John B. Jones, Jr., Acting Asst. Atty. Gen., Lee A. Jackson, Harry Baum, and Donald A. Williamson, Attys., Dept. of Justice, Washington, D. C., Robert E. Hauberg, U. S. Atty., Jackson, Miss., for appellant.

J. C. Floyd, J. L. Prichard, Meridian, Miss., for appellee Floyd, Cameron, Deen & Prichard, Meridian, Miss., of counsel.

Before WISDOM and COLEMAN, Circuit Judges, and DAWKINS, District Judge.

COLEMAN, Circuit Judge:

In this appeal we are concerned with a controversy between the Government and the Taxpayer as to whether the profits from certain real estate transactions were taxable as capital gains or as ordinary income derived from the sale of property held primarily for sale to customers in the ordinary course of business. After full hearing, the District Court found and held that the aforesaid profits should be treated as capital gains.

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