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ALBRIGHT v. UNITED STATES

No. 13784.

173 F.2d 339 (1949)

ALBRIGHT v. UNITED STATES.

United States Court of Appeals Eighth Circuit.

March 10, 1949.

Attorney(s) appearing for the Case

Dennis D. Daly, of St. Paul, Minn., and Allan E. Finseth, of Kenyon, Minn., for appellant.

Theron Lamar Caudle, Asst. Atty. Gen., George A. Stinson, Ellis N. Slack, Lee A. Jackson, and Sumner M. Redstone, Sp. Assts. to Atty. Gen., and S. Walter Shine, Atty. Department of Justice, of Washington, D. C., and John W. Graff, U. S. Atty., of St. Paul, Minn., for appellee.

Before GARDNER, Chief Judge, and WOODROUGH and RIDDICK, Circuit Judges.

RIDDICK, Circuit Judge.

The question on this appeal is whether profits realized from sales of livestock from a dairy herd maintained for the production and sale of dairy products and from sales of a breeding herd maintained for the production and sale of livestock constitute ordinary income or are to be treated as capital gains under section 117(j) (1) of the Internal Revenue Code, 26 U.S.C.A., § 117.1

The taxpayer is a farmer...

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