Frederick H. Foglesong, Elizabeth C. Foglesong, and Frederick H. Foglesong Co., Inc. v. Commissioner of Internal Revenue

621 F.2d 865

80-1 USTC P 9399

Frederick H. FOGLESONG, Elizabeth C. Foglesong, and

Frederick H. Foglesong Co., Inc., Petitioners-Appellants,

v.

COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

Nos. 79-1749, 79-1750.

United States Court of Appeals,

Seventh Circuit.

Argued Jan. 17, 1980.

Decided April 29, 1980.

James J. Shrager, Newark, N.J., for petitioners-appellants.

Michael J. Roach, Tax Div., Dept. of Justice, Washington. D.C., for respondent-appellee.

Before TONE, WOOD and CUDAHY, Circuit Judges.

CUDAHY, Circuit Judge.

1

This is an appeal from a decision of the United States Tax Court, 35 T.C.M.…