Sicanoff Vegetable Oil Corp. v. Commissioner
United States Tax Court
Each of the petitioner corporations was engaged in the purchase and sale of commodities under contracts providing for "forward delivery," that were not made through or subject to the rules of a board of trade or commodity exchange. Neither corporation produced, processed, graded, stored, transported, or otherwise physically handled any of the commodities which it thus bought and sold.
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Each of the petitioner corporations was engaged in the purchase and sale of commodities under contracts providing for "forward delivery," that were not made through or subject to the rules of a board of trade or commodity exchange. Neither corporation produced, processed, graded, stored, transported, or otherwise physically handled any of the commodities which it thus bought and sold. Each corporation also engaged extensively in "futures" transactions in a wide variety of commodities, on or subject to the rules of a board of trade or commodity exchange. 1. Held, that each of the petitioners…
1Opinion of the Court
Sicanoff Vegetable Oil Corporation, Petitioner, v. Commissioner of Internal Revenue, Respondent. Sicanoff Tallow Corporation, Petitioner, v. Commissioner of Internal Revenue, Respondent
Sicanoff Vegetable Oil Corp. v. Commissioner
Docket Nos. 53637, 53638
United States Tax Court
27 T.C. 1056; 1957 U.S. Tax Ct. LEXIS 231;
March 29, 1957, Filed
Decisions will be entered under Rule 50.
Each of the petitioner corporations was engaged in the purchase and sale of commodities under contracts providing for "forward delivery," that were not made through or subject to the rules of a board of trade or…
2Cases cited13 opinions
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Sicanoff Vegetable Oil Corp. v. CommissionerUnited States Tax Court · 1957
- United States v. New York Coffee & Sugar Exchange, Inc.Supreme Court of the United States · 1924
- Commissioner of Internal Rev. v. Farmers & G C. Oil Co.Court of Appeals for the Fifth Circuit · 1941
- Corn Products Refining Company v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1954
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