TRASK v. HOEY

No. 25, Docket 21376.

177 F.2d 940 (1949)

TRASK v. HOEY. WARD v. HOEY.

United States Court of Appeals Second Circuit.

Decided November 22, 1949.


Attorney(s) appearing for the Case

Benjamin H. Trask, New York City, for appellants.

John F. X. McGohey, United States Attorney for the Southern District of New York, New York City (Henry L. Glenn, Assistant United States Attorney, New York City, of counsel), for appellee.

Before L. HAND, Chief Judge, and SWAN and FRANK, Circuit Judges.


FRANK, Circuit Judge.

Helvering v. Bruun, 309 U.S. 461, 60 S.Ct. 631, 84 L.Ed. 864, disposes of taxpayers' first contention.2 Pursuant to the ruling in that case, the three lessors, on the termination of the lease, received a taxable gain equal to the fair market value of that half of the building for which the lessees had paid.3

We cannot agree with taxpayers' second...

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