Legal Opinion
Hempt Bros., Inc. v. United States
Court of Appeals for the Third Circuit
Decided January 14, 1974No. 73-1296PublishedCited by 33 opinions
1Opinion of the Court
OPINION OF THE COURT
ALDISERT, Circuit Judge.
In this appeal by a corporate taxpayer from a grant of summary judgment in favor of the government in a claim for refund, we are called upon to decide the proper treatment of accounts receivable and of inventory transferred from a cash basis partnership to a corporation organized to continue the business under 26 U.S.C. § 351(a). 1 This appeal illustrates the conflict between the statutory purpose of Section 351, postponement of recognition of gain or loss, and the assignment of income and tax benefit doctrines.
The facts were wholly stipulated;…
2Cases cited30 opinions
- Commissioner v. SunnenSupreme Court of the United States · 1948
- Lucas v. EarlSupreme Court of the United States · 1930
- Helvering v. HorstSupreme Court of the United States · 1940
- Commissioner v. CulbertsonSupreme Court of the United States · 1949
- Moline Properties, Inc. v. CommissionerSupreme Court of the United States · 1943
25 more not listed; retrieve them via the Exa API.
3Cited by33 opinions
- Tennessee Carolina Transp., Inc. v. CommissionerUnited States Tax Court · 1975
- Scott Paper Co. v. United StatesDistrict Court, E.D. Pennsylvania · 1996
- Charles L. Long and Ruth S. Long v. United StatesCourt of Appeals for the Sixth Circuit · 1981
- Berger v. CommissionerUnited States Tax Court · 1996
- George Lattera Angeline Lattera v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 2006
28 more not listed; retrieve them via the Exa API.