DIXON v. UNITED STATES

No. 486.

381 U.S. 68 (1965)

DIXON ET AL. v. UNITED STATES.

Supreme Court of United States.

Decided May 3, 1965.


Attorney(s) appearing for the Case

Bernard E. Brandes argued the cause for petitioners. With him on the briefs was Sanford Saideman.

Frank I. Goodman argued the cause for the United States. With him on the brief were Solicitor General Cox, Assistant Attorney General Oberdorfer, Wayne G. Barnett and Joseph Kovner.


MR. JUSTICE BRENNAN delivered the opinion of the Court.

This case involves the issue decided today in United States v. Midland-Ross Corp., No. 628, ante, p. 54. Petitioners are members of a partnership which, during the tax year 1952, bought 33 short-term noninterest-bearing notes from issuers at discounts between 2 3/8% and 3 3/4% of face value. The notes had maturities ranging from 190 to 272 days. Their total face value was $43,050,000, and...

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