RINEHART OIL NEWS COMPANY v. COMMISSIONER OF INTERNAL REVENUE

No. 23416.

369 F.2d 692 (1966)

The RINEHART OIL NEWS COMPANY, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fifth Circuit.

Rehearing Denied December 21, 1966.


Attorney(s) appearing for the Case

Richard A. Freling, Robert B. Ward, Dallas, Tex., for appellant, Jenkens, Anson, Spradley & Gilchrist, Dallas, Tex., of counsel.

Richard M. Roberts, Acting Asst. Atty. Gen., Lee A. Jackson, Atty., Mitchell Rogovin, Asst. Atty. Gen., Dept. of Justice, Richard P. Milloy, Atty., I. R. S., Gilbert E. Andrews, Jr., Howard M. Koff, Richard C. Pugh, Nicholas McGrath, Attys., Dept. of Justice, Washington, D. C., for respondent.

Before TUTTLE, Chief Judge, and JONES and GEWIN, Circuit Judges.


PER CURIAM:

In this Petition for Review of a Decision of the Tax Court of the United States, the Petitioner contends the decision of the Tax Court is clearly erroneous as not being supported by any substantial evidence on the record as a whole.

We have carefully considered the record and conclude that the Tax Court correctly determined that no part of the sale price paid by Rinehart to Five Star Oil Reports, Inc. was paid in return for covenants by four of...

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