Malcolm J. Henley and Mary K. Henley v. The United States

OPINION

SKELTON, Judge.

This is an income tax case involving a mineral interest in land in Texas. * The plaintiffs, who are a husband and wife residing in Tyler, Smith County, Texas, seek to recover the sum of $25,024.98 (plus interest) as a partial refund of the income tax which they paid for the calendar year 1961. (The plaintiff Mary K. Henley is a party to the action only because she signed a joint income tax return with her husband for 1961.)

It is our opinion that the plaintiffs are not entitled to recover.

In 1961, the plaintiff Malcolm J. Henley was executive vice president of the Tyler…