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LAUGHINGHOUSE v. COMMISSIONER OF INTERNAL REVENUE

No. 15296.

227 F.2d 477 (1955)

C. W. LAUGHINGHOUSE and Ruby E. Laughinghouse, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fifth Circuit.

November 18, 1955.

Attorney(s) appearing for the Case

Dorothea Watson, and Claude L. Gray, Orlando, Fla., for petitioners.

H. Brian Holland, Asst. Atty. Gen., S. Dee Hanson, Ellis N. Slack, Sp. Assts. to Atty. Gen., Daniel A. Taylor, Chief Counsel, Int. Rev. Service, Rollin H. Transue, Sp. Atty., Int. Rev. Service, George F. Lynch, Atty., Dept. of Justice, Washington, D. C., for respondent.

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

BORAH, Circuit Judge.

This is a petition to review the decision of The Tax Court1 sustaining a deficiency determination in petitioners' Federal income taxes for the calendar year 1944.

The petitioner, C. W. Laughinghouse, during the year 1944, was engaged in business as a wholesale beer and wine distributor. On September 30, 1944, this business was discontinued and sold to petitioner's brother for $26,494.94. The sale included...

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