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ALDERSON v. C. I. R.

No. 18221.

317 F.2d 790 (1963)

James ALDERSON, surviving husband and Estate of Clarissa E. Alderson, Deceased, James Alderson, Executor, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Ninth Circuit.

May 22, 1963.

Attorney(s) appearing for the Case

Paul Frederic Marx, Santa Ana, Cal., and Ernest J. Zack, Los Angeles, Cal., for petitioners.

Louis F. Oberdorfer, Asst. Atty. Gen., Lee A. Jackson, Harry Baum, Alec A. Pandaleon, and Fred E. Youngman, Attys., Dept. of Justice, Washington, D. C., for respondents.

Before BARNES and MERRILL, Circuit Judges, and CRARY, District Judge.

CRARY, District Judge.

Petitioners seek review of the decision of the Tax Court, entered May 8, 1962, determining a deficiency in income tax for the taxable year 1957 in the amount of $39,530.58.

The question presented is whether the transactions whereby taxpayers transferred one parcel of realty and acquired another constituted a sale, the gain from which is recognizable under Section 10021 of the Internal Revenue Code of 1954...

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