Opinion
No. 9535.
Argued February 17, 1948.
Decided February 27, 1948. Rehearing Denied March 25, 1948.
On Petition for Review of Decision of the Tax Court of the United States.
Walter C. Longstreth, of Philadelphia, Pa., for petitioner.
Helen Goodner, of Washington, D.C., (Theron Lamar Caudle, Asst. Atty. Gen., and Sewall Key, Robert N. Anderson and Newton K. Fox, Sp. Assts. to Atty. Gen., on the brief), for respondent.
Before McLAUGHLIN, O'CONNELL, and KALODNER, Circuit Judges.
The questions here involve the valuation by the Tax Court of certain shares of estate stock and failure of that court to apply the blockage rule to the problem of the value of the shares.
It is not our function in this type of case to substitute our conclusions and inferences for those of the Tax Court. The facts and circumstances furnish a reasonable basis for the conclusion that body reached.
The decision will be affirmed.