Johnson v. Commissioner
United States Tax Court
Edwin and Harriet Johnson, husband and wife, operated a sole proprietorship which in 1956 made approximately 80 separate sales of manufactured products to Edwin's wholly owned corporation, 46 such sales being at a price which was less than the agreed cost of labor, material, and allocated overhead for the items sold, and the balance of such sales at a price in excess of such costs.
Read the full summary
Edwin and Harriet Johnson, husband and wife, operated a sole proprietorship which in 1956 made approximately 80 separate sales of manufactured products to Edwin's wholly owned corporation, 46 such sales being at a price which was less than the agreed cost of labor, material, and allocated overhead for the items sold, and the balance of such sales at a price in excess of such costs. Held: Under section 267(a), I.R.C. 1954, the 46 sales were sales of property at a loss for which no deduction is allowable. Section 267 (a) so interpreted is not unconstitutional. The gains on the sales in excess…
1Opinion of the Court
Estate of Edwin H. Johnson, Deceased, Harriet Blu Johnson, Executrix, and Harriet Blu Johnson, Petitioners, v. Commissioner of Internal Revenue, Respondent
Johnson v. Commissioner
Docket No. 89835
United States Tax Court
42 T.C. 441; 1964 U.S. Tax Ct. LEXIS 99;
May 27, 1964, Filed
Decision will be entered under Rule 50.
Edwin and Harriet Johnson, husband and wife, operated a sole proprietorship which in 1956 made approximately 80 separate sales of manufactured products to Edwin's wholly owned corporation, 46 such sales being at a price which was less than the agreed cost of labor, material, and…
2Cases cited9 opinions
- Sullenger v. CommissionerUnited States Tax Court · 1948
- Kaplan v. CommissionerUnited States Tax Court · 1953
- Commissioner of Internal Revenue v. WeismanCourt of Appeals for the First Circuit · 1952
- Weather-Seal Mfg. Co. v. CommissionerUnited States Tax Court · 1951
- Hofferbert, Collector of Internal Revenue v. Anderson Oldsmobile, IncCourt of Appeals for the Fourth Circuit · 1952
4 more not listed; retrieve them via the Exa API.