JONES v. C. I. R.

No. 16379.

357 F.2d 644 (1966)

Newman E. JONES, Jr., and Peggy H. Jones, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Sixth Circuit.

March 3, 1966.


Attorney(s) appearing for the Case

Gayle Malone, Trenton, Tenn. (Gayle Malone, Trenton, Tenn., Barret Ashley, Dyersburg, Tenn., on the brief, Ashley, Malone & Ashley, Trenton, Tenn., of counsel), for petitioners.

Stephen H. Paley, Dept. of Justice, Washington, D. C. (Louis F. Oberdorfer, Asst. Atty. Gen., Lee A. Jackson, David O. Walter, Stephen H. Paley, Attys., Dept. of Justice, Washington, D. C., on the brief), for respondent.

Before PHILLIPS and EDWARDS, Circuit Judges, and CECIL, Senior Circuit Judge.


PER CURIAM.

This cause is before the Court on petition for review of a decision of the Tax Court of the United States. The facts were stipulated and they are fully stated in the findings of facts and opinion of the Tax Court. (23 T.C.M. 1613 (1964)) The decision of the Tax Court relates to the 1960 tax return of the petitioners, Newman E. Jones, Jr. and his wife Peggy H. Jones.

In 1954, Newman E. Jones, Jr., (Petitioner) inherited from his father Newman Jones...

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