Legal Opinion
Commissioner of Internal Revenue v. O. Liquidating Corporation
Court of Appeals for the Third Circuit
Decided June 14, 1961No. 13420_1PublishedCited by 59 opinions
1Opinion of the Court
KALODNER, Circuit Judge.
Did the Commissioner of Internal Revenue abuse his statutory discretion in refusing to grant his consent to a change in the taxpayer’s method of accounting for a material item of gross income ?
That is the critical question presented by the Commissioner of Internal Revenue’s petition for review of the Tax Court decision which answered it in the affirmative.1
Treasury Regulations 118, § 39.41-2, relating to Sections 41 and 42 of the Internal Revenue Code of 1939 2 provide in relevant part as follows:
“(c) A taxpayer who changes the method of accounting employed in keeping…
2Cases cited11 opinions
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Brown v. HelveringSupreme Court of the United States · 1934
- Security Flour Mills Co. v. CommissionerSupreme Court of the United States · 1944
- Commissioner v. HansenSupreme Court of the United States · 1959
- Caldwell v. Commissioner of Internal Revenue. Commissioner of Internal Revenue v. CaldwellCourt of Appeals for the Second Circuit · 1953
6 more not listed; retrieve them via the Exa API.
3Cited by59 opinions
- Southern Pacific Transp. Co. v. CommissionerUnited States Tax Court · 1980
- Knight-Ridder Newspapers, Inc. v. United StatesCourt of Appeals for the Eleventh Circuit · 1984
- Graff Chevrolet Company v. Ellis Campbell, Jr., District Director of Internal RevenueCourt of Appeals for the Fifth Circuit · 1965
- Standard Oil Co. v. CommissionerUnited States Tax Court · 1981
- Underhill v. CommissionerUnited States Tax Court · 1966
54 more not listed; retrieve them via the Exa API.