THOMAS
v.
OBENCHAIN ET AL.
THOMAS
OBENCHAIN ET AL.
185 F.2d 455
Court of Appeals for the Fifth Circuit (1950)
Positive Treatment
Cited by 2 cases
Opinion of the Court
HOLMES, Circuit Judge.
The trial court held that Mrs. Goodwin inherited a business from Her Tiusband, and at the time in question was engaged in the money-lending business, which in- eluded investments. We think she was merely investing her own money, and was not engaged in a trade or 'business within the meaning of Section 23 (k) (4) of the Internal Revenue Code, 26 U.S.C.A. § 23' (k) (4). We agree with appellant that, under the evidence in the case, the lower court’s finding was clearly erroneous. See Higgins v. Commissioner of Internal Revenue, 312 U.S. 212, 61 S.Ct. 475, 85 L.Ed. 783.
The judgment appealed from is reversed, and the cause remanded for further proceedings not inconsistent with this opinion.
Cases With Similar Vibessemantic neighbors from the corpus
Citator
Cited By
-
Campbell v. Walker, 208 F.2d 457 (5th Cir. 1953)
Authorities Cited
- Higgins v. Commissioner of Internal Revenue, 312 U.S. 212 (U.S. 1941)