Legal Opinion
Philber Equipment Corporation v. Commissioner of Internal Revenue
Court of Appeals for the Third Circuit
Decided September 27, 1956No. 11860_1PublishedCited by 48 opinions
1Opinion of the Court
KALODNER, Circuit Judge.
Were motor vehicles owned by the taxpayer held “primarily for sale to customers in the ordinary course of his trade or business” within the meaning of Section 117(a) and (j) of the Internal Revenue Code of 1939, 26 U.S.C.A. § 117(a, j)? 1
That is the single question presented by this petition for review of the decision of the Tax Court 2 which answered it affirmatively, thereby making gains on the sale of the vehicles taxable as ordinary income rather than “capital gains”.
The facts may be summarized as follows:
Philber Equipment Corporation (“taxpayer”) is a Pennsylvania…
2Cases cited5 opinions
- Rollingwood Corp. v. Commissioner of Internal Revenue. Bohannon v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1951
- United States v. Bennett (Two Cases). Finch v. Arnold, Acting Collector of Internal Revenue (Two Cases). Birkbeck v. Thomas. Ritchie v. ThomasCourt of Appeals for the Fifth Circuit · 1951
- Curtis Company (Formerly Curtis Engineering Company) v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1956
- Vivian Smith, Individually and the Estate of Benjamin Burnet Smith, Deceased, Vivian Smith, Independent v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1956
- Philber Equip. Corp. v. Comm'rUnited States Tax Court · 1955
3Cited by48 opinions
- Walter H. Kaltreider and Irene C. Kaltreider v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1958
- Raymond Bauschard v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1960
- E. I. Du Pont De Nemours and Company v. United StatesUnited States Court of Claims · 1961
- Teleservice Company of Wyoming Valley v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1958
- The Pennroad Corporation and Affiliated Companies v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1958
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