HELVERING v. A. L. KILLIAN CO.

No. 12164.

128 F.2d 433 (1942)

HELVERING, Commissioner of Internal Revenue, v. A. L. KILLIAN CO.

Circuit Court of Appeals, Eighth Circuit.

May 15, 1942.


Attorney(s) appearing for the Case

Louise Foster, Sp. Asst. to the Atty. Gen. (Samuel O. Clark, Jr., Asst. Atty. Gen., and J. Louis Monarch, Sp. Asst. to the Atty. Gen., on the brief), for petitioner.

Helen Goodner, of Washington, D. C. (George E. H. Goodner and D. F. Prince, both of Washington, D. C., on the brief), for respondent.

Before GARDNER, THOMAS, and RIDDICK, Circuit Judges.


RIDDICK, Circuit Judge.

This is a petition for review of a decision of the Board of Tax Appeals reversing a determination of a deficiency in respondent's income tax for the year 1935. The question presented is whether respondent received taxable income during the year 1935 under § 22 of the Internal Revenue Act of 1934, 26 U.S.C.A. Int.Rev.Acts, page 669, as a result of a transaction by which the purchase price of real property, a portion of which was payable...

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