W. L. MOODY COTTON CO. v. COMMISSIONER OF INT. REV.

No. 10925.

143 F.2d 712 (1944)

W. L. MOODY COTTON CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Fifth Circuit.

July 11, 1944.


Attorney(s) appearing for the Case

H. E. Kleinecke, Jr., of Galveston, Tex., for petitioner.

Howard P. Locke, Sewall Key, A. F. Prescott, and S. Dee Hanson, Sp. Assts. to the Atty. Gen., Samuel O. Clark, Jr., Asst. Atty. Gen., and J. P. Wenchel, Chief Counsel, Bureau of Internal Revenue, and Rollin H. Transue, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for respondent.

Before SIBLEY, HUTCHESON, and LEE, Circuit Judges.


HUTCHESON, Circuit Judge.

Failing in the Tax Court to obtain a redetermination of deficiencies for the fiscal year ending August 31, 1937, satisfactory to it, petitioner is here seeking a reversal. The facts as stipulated and testified to are fully set out in the opinion of the Tax Court.1 It will be sufficient to refer to that opinion for a statement of the facts as a whole and to present a brief abstract of them as they bear on each...

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