PROVIDENT TRUST CO. OF PHILADELPHIA v. COMMISSIONER OF INTERNAL REVENUE

No. 5536.

76 F.2d 810 (1935)

PROVIDENT TRUST CO. OF PHILADELPHIA v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Third Circuit.

March 19, 1935.


Attorney(s) appearing for the Case

Alfred S. Weill and J. Charles Murtagh, both of Philadelphia, Pa. (Weill, Blakely & Nesbit and Weill, Satterlee, Blakely & Green, all of Philadelphia, Pa., of counsel), for petitioner.

Frank J. Wideman, Asst. Atty. Gen., and Sewall Key and Carlton Fox, Sp. Assts. to Atty. Gen., for respondent.

Before BUFFINGTON, WOOLLEY, and THOMPSON, Circuit Judges.


BUFFINGTON, Circuit Judge.

In this income tax case it appears the taxpayer died in the midst of a taxable year and the question involved is the taxable quantum of his income at the time of his death.

The facts show that some years previous to his death the taxpayer had bought two tracts of land. He had afterwards sold them for a much larger sum than he had paid for the same. He took, at the time of the sale, a number of installment notes, some of which were...

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