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UNITED STATES v. KIMBALL GAS PRODUCTS COMPANY

No. 20449.

358 F.2d 133 (1966)

UNITED STATES of America, Appellant, v. KIMBALL GAS PRODUCTS COMPANY, Appellee.

United States Court of Appeals Fifth Circuit.

March 31, 1966.

Attorney(s) appearing for the Case

Louis F. Oberdorfer, Asst. Atty. Gen., Lee A. Jackson, Atty., Dept. of Justice, Washington, D. C., Ernest Morgan, U. S. Atty., San Antonio, Tex., William A. Friedlander, Atty., Dept. of Justice, Washington, D. C., Harry Baum, Atty., Dept. of Justice, Washington, D. C., Fred J. Morton, Asst. U. S. Atty., for appellant.

Benjamin L. Bird, Fort Worth, Tex., Weeks, Bird, Cannon & Appleman, Fort Worth, Tex., of counsel, for appellee.

Before BROWN, WISDOM, and BELL, Circuit Judges.

PER CURIAM.

This case is now controlled by Fribourg Navigation Company, Inc. v. Commissioner of Internal Revenue, 1966, 383 U.S. 272, 86 S.Ct. 862, 15 L.Ed.2d 751. In Fribourg the Supreme Court held that, "as a matter of law, the sale of a depreciable asset for an amount in excess of its adjusted basis at the beginning of the year of sale" does not bar "deduction of depreciation for that year".

Here the sole issue, as...

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