Legal Opinion
Louis Buddy Yosha v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided November 8, 1988No. 87-2342PublishedCited by 102 opinions
1Opinion of the Court
POSNER, Circuit Judge.
The eternal tension between form and substance is the topic of this tax appeal. In Glass v. Commissioner, 87 T.C. 1087 (1986), following massive consolidated pretrial and trial proceedings, the Tax Court upheld the Internal Revenue Service’s dis-allowance of deductions (aggregating some $100 million) claimed by more than 1,400 taxpayers for losses allegedly incurred trading option straddles and hedges on the London Metal Exchange. Four of these taxpayers petition us to reverse Glass. Other taxpayers have filed similar petitions in nine other circuits; and we are told…
2Cases cited29 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Knetsch v. United StatesSupreme Court of the United States · 1960
- Crane v. CommissionerSupreme Court of the United States · 1947
- Freytag v. CommissionerUnited States Tax Court · 1987
- Helvering v. GregoryCourt of Appeals for the Second Circuit · 1934
24 more not listed; retrieve them via the Exa API.
3Cited by102 opinions
- James Papa v. Katy Industries, Inc. And Walsh Press Company, Inc., Equal Employment Opportunity Commission v. Gjhsrt, Inc.Court of Appeals for the Seventh Circuit · 1999
- Lloyd E. Williams, Jr. And Mildred A. Williams v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1993
- Acm Partnership, Southampton-Hamilton Company, Tax Matters Partner, in No. 97-7484 v. Commissioner of Internal Revenue Acm Partnership, Southampton-Hamilton Company, Tax Matters Partner v. Commissioner of Internal Revenue, in No. 97-7527Court of Appeals for the Third Circuit · 1998
- Laureys v. CommissionerUnited States Tax Court · 1989
- David Dewees and Anne Dewees v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1989
97 more not listed; retrieve them via the Exa API.