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MASQUELETTE'S ESTATE v. COMMISSIONER OF INTERNAL REV.

No. 15917.

239 F.2d 322 (1956)

ESTATE of F. G. MASQUELETTE, Deceased, Houston Bank and Trust Company, Executor, and Sarah Olive Masquelette, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. Edwin L. BRUHL and Lillian Marie Bruhl, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fifth Circuit.

December 26, 1956.

Attorney(s) appearing for the Case

Aaron Goldfarb, Houston, Tex., for petitioners.

Carolyn R. Just, Atty., Tax Division, Washington, D. C., Charles K. Rice, Asst. Atty. Gen., Lee A. Jackson, Atty., Dept. of Justice, John Potts Barnes, Chief Counsel, Int. Rev. Service, John M. Morawski, Sp. Atty., Int. Rev. Service, Louis Foster, Atty., Dept. of Justice, Washington, D. C., for respondent.

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

TUTTLE, Circuit Judge.

These petitions for review of a decision of the Tax Court present the single question whether the proceeds of a sale of petitioners' interest in an accounting partnership were received in payment for the sale of a capital asset or as ordinary income, the answer to that question being found by a determination whether the sale included the good will of the firm or was primarily compensation paid for an...

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