Dana A. Hinckley and Adelaide Hinckley v. Commissioner of Internal Revenue

MEHAFFY, Circuit Judge.

Dana A. Hinckley, the taxpayer, petitions this court, pursuant to 26 U.S.C.A. § 7482, for review of a decision of the Tax Court of the United States reflecting his tax liability for the year 1962. 1 In that year the taxpayer sold certain of his assets consisting of printing equipment, minor tools, supplies, and the land and building where the “Claremont News” was located. The Commissioner determined a deficiency in income tax of $128.42 for the year 1962 and the taxpayer claimed an overpayment of $852.99 of income tax for the same year. Subsequently, the Commissioner…