TOMBARI v. C. I. R.

No. 17405.

299 F.2d 889 (1962)

William A. and Margaret K. TOMBARI, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Ninth Circuit.

Rehearing Denied March 5, 1962.


Attorney(s) appearing for the Case

Francis J. Butler, Spokane, Wash., for appellant.

Louis F. Oberdorfer, Asst. Atty. Gen., Lee A. Jackson, A. F. Prescott, Robert L. Waters and Kenneth Levin, Washington, D. C., for appellee.

Before CHAMBERS, ORR and DUNIWAY, Circuit Judges.


ORR, Circuit Judge.

William A. Tombari and wife on January 23, 1951, sold to Henry C. Lewis and wife the East Mission Pharmacy (hereinafter the Pharmacy) situate in Spokane, Washington, pursuant to the following agreement of purchase. Total purchase price $300,000.00, payable as follows:

(a) $5,000 cash at execution of the agreement.

(b) $75,987.64 ($75,777.15 principal and $210.49 accrued interest) by the assignment of a real estate contract (hereinafter...

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