c32:No. 11896

HOLMES, Circuit Judge
(dissenting).
I would affirm the decision of the Tax Court, since it seems to me that the decision of this court in Commissioner v. Shenandoah Company, 5 Cir., 138 F.2d 792, has in principle been overruled by Commissioner v. Wheeler, 324 U.S. 542, 65 S.Ct. 1182, 89 L.Ed. 2004.

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