Jones

Jones and his wife, hereafter Jones, seek a review of a decision of the Tax Court taxing as ordinary income the proceeds of the sale of four parcels of property sold by Jones, contending the Tax Court erred in not taxing the sale proceeds as income from investment held over six months. I.R.C. § 117(b), 26 U.S.C.A. Mrs. Jones was not a participant in any of the acts involved in the four properties nor a witness in the Tax Court’s hearings.

Before the Tax Court Jones had the burden of proof to show the Commissioner’s assessment was invalid. Welch v. Helvering, 290 U.S. 111, 115 , 54 S.Ct. 8 , 78 L.Ed. 212 ; Rogan v. Blue Ridge Oil Co., 9 Cir., 83 F.2d 420 , 422 certiorari denied 299 U.S. 574 , 57 S.Ct. 38 , 81 L.Ed. 423 , Jones testified before the Tax Court concerning the four sales. The Tax Court found his testimony as to the character of his holding of the four parcels “unworthy of credence,” which requires other testimony to support his contentions that the findings of that court have no substantial support in the evidence.

Jones’ occupations regarding real estate were of three kinds. He engaged in a real estate brokerage business, thus handling other persons’ property, for…