SWAN, Circuit Judge.
In 1940 the taxpayer sold certain shares of common stock of Standard Oil Company of California, which he had acquired by gift from his mother in 1929. His mother made the gift from a larger number of shares of such stock, some of which she had acquired as income beneficiary for life under her deceased husband's will, others of which she had acquired as dividends on and a split-up of the shares received by her from her husband's estate, and the...
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