MANTON, Circuit Judge.
This petition to review presents the question whether the petitioners are liable for income tax in 1920 when a profit accrued to the deceased taxpayer through a transaction whereby certain bonds of the state of West Virginia were received in exchange for deposit receipts theretofore purchased. Section 202(b), Revenue Act of 1918, 40 Stat. 1057, 1060.
In 1914 and 1919, the petitioners' intestate purchased, on the New York Stock Exchange...
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