Legal Opinion
Commissioner v. Goff
Court of Appeals for the Third Circuit
Decided May 12, 1954No. Nos. 11253-11257PublishedCited by 9 opinions
1Opinion of the Court
GOODRICH, Circuit Judge.
The one question in this case is whether a gain of $142,224.07 realized by the taxpayers is to be taxed as ordinary income or is subject only to the capital gains tax provided for in section 117 (a)(4) of the Internal Revenue Code.1 The Tax Court upheld the taxpayers’ contention in an opinion which sets out the facts as stipulated by the parties and found by the court. 20 T.C. 561. Detailed recital will not be repeated here.
*876The taxpayers are members of a partnership named Saxon Hosiery Mills.2 Saxon bought four hosiery manufacturing machines and installed them in a…
2Cases cited8 opinions
- Commissioner of Internal Revenue v. Golonsky. Commissioner of Internal Revenue v. GoldCourt of Appeals for the Third Circuit · 1952
- Jones, Collector of Internal Revenue v. CorbynCourt of Appeals for the Tenth Circuit · 1950
- Commissioner of Internal Revenue v. Starr Bros., IncCourt of Appeals for the Second Circuit · 1953
- General Artists Corp. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1953
- Commissioner of Internal Revenue v. RayCourt of Appeals for the Fifth Circuit · 1954
3 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Bisbee-Baldwin Corporation v. Laurie E. Tomlinson, District Director of Internal Revenue for the District of FloridaCourt of Appeals for the Fifth Circuit · 1963
- Paul E. Dorman and Wineta E. Dorman v. United StatesCourt of Appeals for the Ninth Circuit · 1961
- Pittston Co. v. CommissionerUnited States Tax Court · 1956
- Commissioner of Internal Revenue v. Goff. Commissioner of Internal Revenue v. Hirschwald. Commissioner of Internal Revenue v. Markle Commissioner of Internal Revenue v. Rosen. Commissioner of Internal Revenue v. SansonCourt of Appeals for the Third Circuit · 1954
- Bisbee-Baldwin Corporation v. Laurie E. Tomlinson, District Director of Internal Revenue for the District of FloridaCourt of Appeals for the Fifth Circuit · 1963
4 more not listed; retrieve them via the Exa API.