UNITED STATES v. WHEELER

No. 19178.

311 F.2d 60 (1962)

UNITED STATES of America, Appellant, v. T. W. and Evelyn B. WHEELER, Appellees.

United States Court of Appeals Fifth Circuit.

Rehearing Denied February 27, 1963.


Attorney(s) appearing for the Case

Louis F. Oberdorfer, Asst. Atty. Gen., Lee A. Jackson, Meyer Rothwacks, Attys., Dept. of Justice, John B. Jones, Jr., Acting Asst. Atty. Gen., Washington, D. C., Ernest Morgan, U. S. Atty., K. Key Hoffman, Asst. U. S. Atty., San Antonio, Tex., David O. Walter, Harry Baum, Douglas A. Kahn, Attys., Dept. of Justice, Washington, D. C., for appellant.

Francis W. Baker, Paul E. Casseb, San Antonio, Tex., for appellees.

Before RIVES, CAMERON and GEWIN, Circuit Judges.


RIVES, Circuit Judge.

This appeal involves the question whether $56,641.41 paid1 by appellee taxpayer2 in compromise and settlement of a state court action charging him with breach of a contract3 to sell the controlling stock interest in three corporations constituted nondeductible capital expenditures to be added to the cost basis of the stock or currently deductible expenses....

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