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STANBACK v. C. I. R.

No. 7855.

271 F.2d 514 (1959)

T. M. STANBACK, T. M. Stanback and Ada M. Stanback, Fred J. Stanback, Fred J. Stanback and Elizabeth C. Stanback, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fourth Circuit.

Decided November 3, 1959.

As Amended November 20, 1959.

Attorney(s) appearing for the Case

J. Gilmer Korner, Jr., Washington, D. C., and H. Gardner Hudson, Winston-Salem, N. C. (Jules G. Korner, III, Washington, D. C., Vaughn, Hudson, Ferrell & Carter, Winston-Salem, N. C., and Blair, Korner, Doyle & Worth, Washington, D. C., on brief), for petitioners.

Carter Bledsoe, Attorney, Department of Justice, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., Lee A. Jackson and I. Henry Kutz, Attorneys, Department of Justice, Washington, D. C., on brief), for respondent.

Before HAYNSWORTH, Circuit Judge, and HOFFMAN and BOREMAN, District Judges.

HAYNSWORTH, Circuit Judge.

Here we deal with the taxation of the income of a family partnership during years preceding 1951. Involved are questions of collateral estoppel to relitigate the tax recognition of the partnership agreement and of the Commissioner's duty to tax capital earnings proportionately to the owners of the capital.

The taxpayers, two brothers, had a proprietary medicine business which they conducted...

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