Braunstein v. Commissioner

OPINION.

Turnee, Judge:

It is the position of the petitioners that the applicability of section 117 (m) of the Internal Revenue Code of 1939 was new matter pleaded by the respondent in his amended answers, and under Rule 32 of the Court’s Rules of Practice, he has the burden of proof with respect thereto. It is our opinion that this position is not well taken. The facts of record definitely show that the applicability of section 117 (m) was at all times recognized and understood by the parties on both sides of these cases to be a basis of the differences between them. That such was the case…