Legal Opinion
Jack I. Levant and May Levant v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided June 7, 1967No. 15758PublishedCited by 29 opinions
1Opinion of the Court
MAJOR, Senior Circuit Judge.
This litigation had its genesis in an employment agreement entered into on April 22, 1957, between Jack I. LeVant (petitioner) and the S. M. Edison Chemical Company (Edison), by which petitioner claims, among other things, that he was granted an option' to purchase up to 20% of Edison, which option was exercisable for a two-year period commencing January 1, 1958. Edison was a sole proprietorship until October 1959, when it transferred its assets to a newly created corporation, Edison, Inc., in exchange for 345, or all of the outstanding, shares of the common stock…
2Cases cited6 opinions
- Commissioner v. LoBueSupreme Court of the United States · 1956
- Commissioner v. SmithSupreme Court of the United States · 1945
- Helvering v. Southwest Consolidated Corp.Supreme Court of the United States · 1942
- Helvering v. San Joaquin Fruit & Investment Co.Supreme Court of the United States · 1936
- In Re Estate of FrayserIllinois Supreme Court · 1948
1 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- Palmer v. CommissionerUnited States Tax Court · 1974
- Jackie L. And Janet G. McDonald v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1985
- Frank v. CommissionerUnited States Tax Court · 1970
- Amerada Hess Corp. v. CommissionerCourt of Appeals for the Third Circuit · 1975
- Gresham v. CommissionerUnited States Tax Court · 1982
24 more not listed; retrieve them via the Exa API.