L. HAND, Circuit Judge.
Crane, the petitioners' testator, who died on April 16th, 1930, had owned a parcel of land since before March 1st, 1913, of which he sold a part on May 17th, 1929. He received in payment $10,000 in cash, and a purchase money bond and mortgage for $390,000. The value of the land on March 1, 1913, was $125,000, and he elected under section 44 (b) of the Revenue Act of 1928 (26 USCA § 2044 (b), to return his profit upon an installment basis...
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