DEMIRJIAN v. COMMISSIONER

Docket Nos. 5565-68, 5569-68.

54 T.C. 1691 (1970)

MIHRAN AND MABEL DEMIRJIAN, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. ESTATE OF ANNE DEMIRJIAN, DECEASED, FRANK DEMIRJIAN, EXECUTOR, AND FRANK DEMIRJIAN, SURVIVING SPOUSE, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed September 1, 1970.


Attorney(s) appearing for the Case

Ralph Neibart, for the petitioners.

William M. Gross, for the respondent.


OPINION

RAUM, Judge:

Mabel Demirjian and Anne Demirjian were sisters-in-law. In 1962 certain property held by them allegedly in an equal partnership was sold in an involuntary condemnation proceeding, and the proceeds were distributed equally to them. Each reinvested a portion of her share of the proceeds in like property. At issue is whether the nonrecognition-of-gains provisions of section 1033, I.R.C....

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