- 5 -
I. Arguments of the Parties
A. Petitioners' Receipt of a Note
Petitioners' argument that returns of capital are not gross
income is well supported. Doyle v. Mitchell Bros. Co., 247 U.S.
179, 185 (1918). Unfortunately for petitioners, they have failed
1(...continued)
the tax involved, and the issues to be decided.
(3) Proposed findings of fact (in the opening
brief or briefs), based on the evidence, in the form of
numbered statements, each of which shall be complete
and shall consist of a concise statement of essential
fact and not a recital of testimony nor a discussion or
argument relating to the evidence or the law. In each
such numbered statement, there shall be inserted
references to the pages of the transcript or the
exhibits or other sources relied upon to support the
statement. In an answering or reply brief, the party
shall set forth any objections, together with the
reasons therefor, to any proposed findings of any other
party, showing the numbers of the statements to which
the objections are directed; in addition, the party may
set forth alternative proposed findings of fact.
(4) A concise statement of the points on which
the party relies.
(5) The argument, which sets forth and discusses
the points of law involved and any disputed questions
of fact.
(6) The signature of counsel or the party
submitting the brief. As to signature, see Rule
23(a)(3).
Petitioners have failed to follow the requirements of
Rule 151(e) by failing in their opening brief to individually set
forth and number each statement of a proposed finding of fact and
by failing, in many instances, to insert references to
appropriate sources for the statements they make. In their reply
brief, petitioners have failed to set forth any objections to the
proposed findings of fact set forth in respondent's opening
brief. The record in this case is not large and we have reviewed
it completely; nevertheless, by their failure to follow our
Rules, petitioners have assumed the risk that we have not
considered the record in a light of their own illumination.
Page: Previous 1 2 3 4 5 6 7 8 9 10 Next
Last modified: May 25, 2011