Legal Opinion
Julian E. Ross and Gertrude A. Ross v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided November 18, 1955No. 15509_1PublishedCited by 41 opinions
1Opinion of the Court
CAMERON, Circuit Judge.
The problem here is whether profits accruing to petitioners during the years 1948 and 1949 from the sale of certain lands should be taxed as ordinary income or as income derived from the sale of capital assets within the meaning of Section 117(a) and (j) of the Internal Revenue Code of 1939, 26 U.S.C.A. 1946 Ed. 1 Its resolution will depend on whether the lands were held primarily for sale to customers of petitioners in the ordinary course of their trade or business. The Tax Court, in an unreported opinion, held that the lands were so held and hence were excluded from…
2Cases cited4 opinions
- Arthur W. Smith and Mrs. Arthur W. Smith v. Charles H. Dunn, Formerly Acting Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Fahs v. CrawfordCourt of Appeals for the Fifth Circuit · 1947
- Nathan D. Goldberg and S. E. Wood, Jr. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Foran v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1948
3Cited by41 opinions
- Fred M. Archer and Evie B. Archer v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- United States v. Ada Belle Winthrop, Individually and as Under the Will of Guy L. Winthrop, DeceasedCourt of Appeals for the Fifth Circuit · 1969
- Biedenharn Realty Co. v. United StatesCourt of Appeals for the Fifth Circuit · 1976
- Harry P. Gamble, Jr., and Gretchen B. Gamble, Husband and Wife v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- Max Lutz and Ruth Lutz v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1960
36 more not listed; retrieve them via the Exa API.