Blum v. Commissioner

OPINION.

Aitondeix, Judge:

The parties are in agreement that the transaction between Nathan Blum and his brother, Louis A. Blum, was á sale, but they differ as to the details, the petitioner contending that he bought his brother’s partnership interest, and the respondent contending that petitioner bought his brother’s interest in the partnership assets. Petitioner’s argument is to the effect that gain or loss is realized only upon the sale or disposition of the business as such, not from the disposition of the assets in the course of business.

The result contended for by petitioner, however,…