STOCKTON HARBOR INDUS. CO. v. COMMISSIONER OF INT. REV.

No. 13615.

216 F.2d 638 (1954)

STOCKTON HARBOR INDUSTRIAL COMPANY, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Ninth Circuit.

Rehearing Denied December 1, 1954.


Attorney(s) appearing for the Case

Valentine Brookes, Arthur H. Kent, San Francisco, Cal., for appellant.

H. Brian Holland, Asst. Atty. Gen., Ellis N. Slack, Lee A. Jackson, Melva M. Graney, Sp. Assts. to Atty. Gen., Charles W. Davis, Chief Counsel, Bureau of Internal Revenue, Washington, D. C., for appellee.

Before ORR and CHAMBERS, Circuit Judges, and YANKWICH, District Judge.


YANKWICH, District Judge.

We are called upon to review a decision of the Tax Court of the United States. The main question before us is whether the petitioner, to whom we shall refer as the taxpayer, acquired its property in a reorganization and whether the money derived from a condemnation of land by the United States Government resulted in a capital gain.

I

The Scope of Review

The taxpayer filed...

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