SIMONS, Chief Judge.
Review of the Tax Court decision in the above entitled cause presents a disputed interpretation of the alternative tax section of the Internal Revenue Code of 1939 in effect for the year 1948 and its impact upon the tax liability of taxpayers having substantial long-term capital gains. The facts are not in dispute and computations based on the conflicting interpretations are concededly correct.
Prior to the Revenue Act of 1921, capital...
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