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SMITH v. DUNN

No. 15368.

224 F.2d 353 (1955)

Arthur W. SMITH and Mrs. Arthur W. Smith, v. Charles H. DUNN, formerly Acting Collector of Internal Revenue.

United States Court of Appeals Fifth Circuit.

June 30, 1955.

Attorney(s) appearing for the Case

Harold E. Smith, A. H. Benton, Atlanta, Ga., Smith & Webb, Atlanta, Ga., of counsel for appellants.

C. Guy Tadlock, Ellis N. Slack, Sp. Assts. to Atty. Gen., H. Brian Holland, Asst. Atty. Gen., A. F. Prescott, Sp. Asst. to the Atty. Gen., James W. Dorsey, U. S. Atty., Slaton Clemmons, Asst. U. S. Atty., Atlanta, Ga., for appellee.

Before HUTCHESON, Chief Judge, and TUTTLE and CAMERON, Circuit Judges.

CAMERON, Circuit Judge.

Income taxes for the years 1949 and 1950 are in dispute here, and the particular question is whether gain realized during those years on the sale of fifty-one subdivided lots is taxable as long term capital or ordinary gain. The case was tried before judge and jury, and each party moved for a directed verdict. The district court sustained the motion of the defendant collector and directed the jury to find a verdict for him. The appeal is from...

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