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TAYLOR v. COMMISSIONER OF INTERNAL REVENUE

No. 6031.

89 F.2d 465 (1937)

TAYLOR et al. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Seventh Circuit.

Rehearing Denied May 24, 1937.

Attorney(s) appearing for the Case

John E. Hughes and Raymond S. Pruitt, both of Chicago, Ill., for petitioners.

Robert H. Jackson, Asst. Atty. Gen., and Sewall Key, L. W. Post, and Berryman Green, Sp. Assts. to the Atty. Gen., for respondent.

Before EVANS, Circuit Judge, and LINDLEY and BRIGGLE, District Judges.

The Board of Tax Appeals sustained an additional tax assessment against the petitioners for the year 1929 amounting to $29,609.53. Interest was added from January 1, 1930.

EVANS, Circuit Judge.

The facts were stipulated. Petitioners and their wives owned all the stock of the T. F. Co. which they sold in May, 1925, to B. U. Co. for $750,000 and 10,000 shares of stock. The tax on the profits of this sale is not involved...

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