SHELBOURNE, District Judge.
The question involved upon this appeal is whether the appellants, husband and wife, the sole stockholders in a corporation which was liquidated in 1952, may revoke their election to be taxed under the provisions of Section 112(b) (7) of the Internal Revenue Code of 1939, 26 U.S.C.A. § 112(b) (7).
The District Court, we think correctly, decided that such election could not be revoked and dismissed the complaint. The judge held...
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