v2888-1284

not occur until at least January 6, 1943; hence no

ripening occurred during the year 1942.

In view of the cases cited by Appellants in their

opening brief and particularly the cases of United

States V. Harmon, 10 Cir., 205 F. (2d) 919, and

Spring City Foundry Co. v. Commissioner^ 292 U.S.

182, 54 S.Ct. 644, 78 L.Ed. 1200 it is apparent that

the Tax Court failed to apply the principles of law

recognized by it to the facts.

CONCLUSION

We respectfully submit that that portion of the

decision of the Tax Court of the United States hold-

ing as income for 1942 the item involved in Periodi-

cal Estimate No. 6, Petitioners' Exhibit 7 (R. 32, 33,

34) certified on January 6, 1943 by Appellant Dally,

for the sum of $122,875.50 (90% of $136,528.34) be

reversed and that this Court find and determine that

the said item was properly includible in reportable

income by the Appellants for the tax year 1943.

Respectfully submitted,

HILE, HOOF & SHUCKLIN

GERALD D. HILE

CLIFFORD HOOF

GERALD SHUCKLIN

Atttorneys for Appellants

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