CHANDLER v. UNITED STATES

Nos. 11295-11297.

226 F.2d 403 (1955)

Kent CHANDLER, Farwell Winston and Albert D. Farwell, as Trustees of The Capitol Freehold Land Trust, Plaintiffs-Appellants, v. The UNITED STATES of America, Defendant-Appellee. Kent CHANDLER et al. v. John T. JARECKI, as Collector of Internal Revenue Of The United States of America For The First District of the State of Illinois, Defendant-Appellee.

United States Court of Appeals Seventh Circuit.

October 14, 1955.


Attorney(s) appearing for the Case

J. F. Dammann, Clay Judson, Sheldon Lee, Kent Chandler, Jr., Chicago, Ill., Wilson & McIlvaine, Chicago, Ill., of counsel, for plaintiffs-appellants.

H. Brian Holland, Asst. Atty. Gen., Marvin W. Weinstein, U. S. Dept. of Justice, Robert Tieken, U. S. Atty., Donald S. Lowitz, Asst. U. S. Atty., Ellis N. Slack, Hilbert P. Zarky, Grant W. Wiprud, Special Assts. to the Atty. Gen., for appellees.

Before MAJOR, FINNEGAN and LINDLEY, Circuit Judges.


FINNEGAN, Circuit Judge.

A clear-cut question is before us, arising from lengthy facts, requiring interpretation and application of former § 117, Internal Revenue Code of 1939.1 We must decide if, during the calendar years 1942 to 1950, taxpayers2 sold statutory capital assets. To reach our ultimate disposition of these appeals3 we...

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