Bloch v. Commissioner of Internal Revenue

STEPHENS, Circuit Judge.

We are considering a petition of an income tax taxpayer for the review of the Tax Court’s decision upholding the method of the Commissioner of Internal Revenue in arriving at gain or loss upon a sale of corporate stock.

The judge of the Tax Court presiding at the hearing states the case so admirably in a memorandum opinion that we repeat it here. We do not, however, agree with his reasoning or with the Tax Court’s decision. The statement includes facts relevant to a review pending as to Louis Bloch, husband of petitioner, and it is stipulated that the determination of…