Lenney v. Commissioner
United States Tax Court
The gain realized by petitioner John W. Lenney on the sale and transfer by Lenney on May 12, 1953, was long-term capital gain from the sale of a partnership interest and not ordinary income from the sale and transfer of partnership assets.
1Opinion of the Court
John W. Lenney and Katherine N. Lenney, Petitioners, v. Commissioner of Internal Revenue, Respondent
Lenney v. Commissioner
Docket No. 87639
United States Tax Court
38 T.C. 287; 1962 U.S. Tax Ct. LEXIS 131;
May 18, 1962, Filed
Decision will be entered for the petitioners.
The gain realized by petitioner John W. Lenney on the sale and transfer by Lenney on May 12, 1953, was long-term capital gain from the sale of a partnership interest and not ordinary income from the sale and transfer of partnership assets.
M. B. Kambel, Esq., for the petitioners.
David R. Brennan, Esq., for the respondent.
Arundell,…
2Cases cited10 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Commissioner v. TowerSupreme Court of the United States · 1946
- United States v. Cumberland Public Service Co.Supreme Court of the United States · 1950
- Paul W. Trousdale v. Commissioner of Internal Revenue, Marguerite R. Trousdale v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
- United States v. ShapiroCourt of Appeals for the Eighth Circuit · 1949
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