HEEBNER v. C. I. R.

No. 13173.

280 F.2d 228 (1960)

George K. HEEBNER, Jr. and Ruth S. Heebner, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Third Circuit.

Decided June 23, 1960.

On Rehearing July 29, 1960.


Attorney(s) appearing for the Case

George F. Shinehouse, Jr., Philadelphia, Pa. (A. Barnes Zink, Zink, Shinehouse & Holmes, Philadelphia, Pa., on the brief) for petitioners.

William A. Friedlander, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., Lee A. Jackson, A. F. Prescott, Attorneys, Department of Justice, Washington, D. C., on the brief), for respondent.

Before GOODRICH, McLAUGHLIN and STALEY, Circuit Judges.


STALEY, Circuit Judge.

This taxpayer's petition for review of a decision of the Tax Court primarily poses the question whether the profit realized on the disposition of certain property was properly treated by the Tax Court as ordinary income rather than capital gain. Two subsidiary issues were also raised in the Tax Court, one relating to an expense deduction and the other to a constructive dividend. The former issue was withdrawn on appeal and the latter need be...

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