GUDGEL v. C. I. R.

No. 13778.

273 F.2d 206 (1959)

Boyd GUDGEL and Geraldine Gudgel, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Sixth Circuit.

December 28, 1959.


Attorney(s) appearing for the Case

Richard C. Oldham, Louisville, Ky. (Clinton R. Burroughs, Louisville, Ky., on the brief), for petitioners.

Helen Buckley, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., Lee A. Jackson, Robert N. Anderson, Karl Schmeidler, Atty., Dept. of Justice, Washington, D. C., on the brief), for respondent.

Before McALLISTER, Chief Judge, and SIMONS and WEICK, Circuit Judges.


SIMONS, Circuit Judge.

The petitioners, husband and wife, were dairy farmers. The principal issue in the case is whether, in subdividing their farm and selling lots therein, during the tax years 1951, 1952, and 1953, at a profit, they should have been permitted to return such profit in their income tax returns as capital gains or whether they were required to return it as ordinary income. The Commissioner asserts the profits constituted ordinary income and the Tax...

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