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UNITED STATES v. G. W. VAN KEPPEL

No. 7220.

321 F.2d 717 (1963)

UNITED STATES of America, Appellant, v. G. W. VAN KEPPEL and Elizabeth Van Keppel, Appellees.

United States Court of Appeals Tenth Circuit.

August 26, 1963.

Attorney(s) appearing for the Case

Harold C. Wilkenfeld, Atty., Dept. of Justice (Louis F. Oberdorfer, Asst. Atty. Gen., Lee A. Jackson, Melva M. Graney, and Stephen B. Wolfberg, Attys., Dept. of Justice, and Newell A. George, U. S. Atty., on the brief), for appellant.

Joseph H. McDowell, Kansas City, Kan., and Richard H. Brown, Kansas City, Mo. (John B. Gage, Albert F. Hillix, and Hillix, Hall, Hasburgh, Brown & Hoffhaus, Kansas City, Mo., on the brief), for appellees.

Before BRATTON, LEWIS and BREITENSTEIN, Circuit Judges.

BREITENSTEIN, Circuit Judge.

This controversy relates to the taxability of proceeds from the redemption of corporate stock as ordinary income or as a capital gain. The trial court upheld the taxpayers' contention that the transaction represented a capital gain. The government, asserting that the amount of gain received was ordinary income, has appealed.

The appellees-taxpayers are husband and wife and reside in Kansas. The husband was in the business of selling...

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