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COMMISSIONER OF INTERNAL REVENUE v. GOFF

Nos. 11253-11257.

212 F.2d 875 (1954)

COMMISSIONER OF INTERNAL REVENUE v. GOFF. COMMISSIONER OF INTERNAL REVENUE v. HIRSCHWALD. COMMISSIONER OF INTERNAL REVENUE v. MARKLE et al. COMMISSIONER OF INTERNAL REVENUE v. ROSEN. COMMISSIONER OF INTERNAL REVENUE v. SANSON.

United States Court of Appeals, Third Circuit.

Decided May 12, 1954.

Attorney(s) appearing for the Case

Morton K. Rothschild, Washington, D. C. (H. Brian Holland, Asst. Atty. Gen., Ellis N. Slack, Sp. Asst. to Atty. Gen., on the brief), for petitioner.

Herman H. Krekstein, Philadelphia, Pa. (Gerald Krekstein, Philadelphia, Pa., on the brief), for respondents.

Before BIGGS, Chief Judge, and GOODRICH and McLAUGHLIN, Circuit Judges.

GOODRICH, Circuit Judge.

The one question in this case is whether a gain of $142,224.07 realized by the taxpayers is to be taxed as ordinary income or is subject only to the capital gains tax provided for in section 117 (a)(4) of the Internal Revenue Code.1 The Tax Court upheld the taxpayers' contention in an opinion which sets out the facts as stipulated by the parties and found by the court. 20 T.C. 561

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