BERKS COUNTY TRUST CO. v. COMMISSIONER OF INTERNAL REVENUE

No. 5497.

78 F.2d 810 (1935)

BERKS COUNTY TRUST CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Third Circuit.

June 19, 1935.


Attorney(s) appearing for the Case

Walter E. Barton, of Washington, D. C., for petitioners.

A. F. Prescott, Sp. Asst. to Atty. Gen., Frank J. Wideman, Asst. Atty. Gen., and Sewall Key, Sp. Asst. to Atty. Gen., for respondent.

Before BUFFINGTON, WOOLLEY, and THOMPSON, Circuit Judges.


BUFFINGTON, Circuit Judge.

The crucial question in this income tax case is whether the decedent, of whom the appellant is executor, was a dealer in securities, and, as such, entitled to a reduction in his income. The Commissioner held he was not, and the Board of Tax Appeals sustained the Commissioner. Thereupon, the executors took this appeal.

From the proofs it appears that on September 28, 1928, the decedent, William A. Sharp, and one Robert B. Meyer entered...

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