SIMONS, Chief Judge.
Involved in this controversy is the question whether defaulted interest due on notes held by the petitioner became on their sale to a third party, for a price substantially in excess of their face value, capital gain to him or ordinary income taxable at income tax rates. There is no factual controversy, the case having been submitted upon a stipulation of facts supplemented by uncontroverted evidence accepted by the Tax Court in its findings....
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