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ANDERSON v. COMMISSIONER OF INTERNAL REVENUE

United States Court of Appeals, Fifth Circuit.
Mar 24, 1980
Judgment
Subsequent
References
CaseIQ
Case Information
CITATION CODES
citation codes
DOCKET NO.

Nos. 77-2048, 77-2049.

Attorney(S)

Gregory A. Pletsch, David Irvin Couvillion, Theodore L. Jones, Baton Rouge, La., for petitioners-appellants. M. Carr Ferguson, Asst. Atty. Gen., Gilbert E. Andrews, Act. Chief, App. Sect., William Estabrook, Atty., U.S. Dept. of Justice, Internal Rev. Service, Leon G. Wigrizer, Acting Chief Counsel, Stanley S. Shaw, Jr., Atty., Tax Div., Dept. of Just., Washington, D.C., for C. I. R. in both cases. Lester Stein, Acting Chief Counsel, IRS, Washington, D.C., for C. I. R. in 77-2048. Stuart E. Seigel, Internal Rev. Service, Washington, D.C., for C. I. R. in 77-2049.

JUDGES

Before SIMPSON, TJOFLAT, and HILL, Circuit Judges. PER CURIAM

ACTS

No Acts

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PER CURIAM:

Taxpayers appeal from a Tax Court ruling that they did not qualify under I.R.C. § 1201 for a twenty-five percent capital gains tax rate on their sale of stock. 1976 T.C.M. ¶ 76,362 (P-H). The narrow issue before us is whether the Tax Court erred in concluding that the taxpayers had not sold their stock pursuant to a binding contract in effect on November 9, 1969. We cannot say that the Tax Court's finding of fact on this issue is clearly erroneous or that it erred in holding that the alleged agreement was unenforceable. The Tax Court therefore is

AFFIRMED.

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