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BROUNTAS v. C.I.R.

Nos. 81-1840, 81-1877.

692 F.2d 152 (1982)

Paul P. BROUNTAS, et al., Petitioners, Appellees, v. COMMISSIONER OF INTERNAL REVENUE, Respondent, Appellant. Paul P. and Lynn T. BROUNTAS, Petitioners, Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Respondent, Appellee.

United States Court of Appeals, First Circuit.

Decided September 28, 1982.

Attorney(s) appearing for the Case

George L. Hastings, Jr., Atty., Tax Div., Dept. of Justice, Washington, D.C., with whom Glenn L. Archer, Jr., Asst. Atty. Gen., Michael L. Paup and Ann Belanger Durney, Attys., Tax Div., Dept. of Justice, Washington, D.C., were on brief, for C.I.R.

Thomas B. Rutter, Philadelphia, Pa., for Paul P. Brountas, et al.

Before CAMPBELL and BREYER, Circuit Judges, and PETTINE, Senior District Judge.

BREYER, Circuit Judge.

In this "tax shelter" case, we are asked to determine the propriety of certain deductions taken by a limited partner in an oil-and-gas drilling partnership. There is little question that subsequent changes in the law have made deductions similar to those at issue here improper for individual taxpayers. See 26 U.S.C. § 465 (Supp. IV 1980) (the "at risk" provisions). But, under the law as it stood when the deductions were taken, which...

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