Peavey v. United States

TEMPLAR, District Judge.

This action was instituted by plaintiffs Peavey, husband and wife, to recover what they contend was an erroneous and illegal additional assessment of income taxes under their joint return filed with the Collector of Internal Revenue for the year 1957.

The following stipulations were entered into by the parties:(a) On October 8, 1956, Yoder and Peavey executed a new agreement for sale of the Top Hat Motel to Peavey for the sum of $79,500 (Exhibit 1).(b) On October 8, 1956, Peavey requested electric utility service to be furnished to the Top Hat Motel property and…