SULLIVAN, District Judge.
In 1953, plaintiffs (husband and wife) sold to the Commonwealth Edison Company certain land which that company was threatening to condemn. The transaction was consummated by a contract of sale which provided that the sales price was $1,020 per acre, and the total consideration was based on this figure. In reporting their taxable gain on their joint income tax return for that year taxpayers reported as gain an amount figured at $500 an acre...
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