Legal Opinion
Jones, Collector of Internal Revenue v. Corbyn
Court of Appeals for the Tenth Circuit
Decided December 29, 1950No. 4110PublishedCited by 68 opinions
1Opinion of the Court
PICKETT, Circuit Judge.
Marmaduke Corbyn, Marmaduke Cor-byn, Jr., and G. Scaling Corbyn, as taxpayers, brought this action against the Collector of Internal Revenue for the District of Oklahoma to recover income taxes paid as a result of his deficiency assessments. Judgment was for the taxpayers and the Collector has appealed. The question presented is whether $45,000 of a lump sum payment of $46,500 received by the taxpayers for the release of a life time general insurance agency contract should be treated for tax purposes as a long term capital gain or as ordinary income.
Marmaduke Corbyn was…
2Cases cited19 opinions
- Lyeth v. HoeySupreme Court of the United States · 1938
- Hort v. CommissionerSupreme Court of the United States · 1941
- Lynch v. Alworth-Stephens Co.Supreme Court of the United States · 1925
- Raytheon Production Corp. v. Commissioner of Int. Rev.Court of Appeals for the First Circuit · 1944
- Helvering v. Safe Deposit & Trust Co. of BaltimoreSupreme Court of the United States · 1942
14 more not listed; retrieve them via the Exa API.
3Cited by68 opinions
- Commissioner of Internal Revenue v. José FerrerCourt of Appeals for the Second Circuit · 1962
- Harrison E. Spangler and Myrtle B. Spangler v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1963
- Commissioner of Internal Revenue v. Golonsky. Commissioner of Internal Revenue v. GoldCourt of Appeals for the Third Circuit · 1952
- Commissioner of Internal Revenue v. Starr Bros., IncCourt of Appeals for the Second Circuit · 1953
- Bisbee-Baldwin Corporation v. Laurie E. Tomlinson, District Director of Internal Revenue for the District of FloridaCourt of Appeals for the Fifth Circuit · 1963
63 more not listed; retrieve them via the Exa API.