Legal Opinion
White v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided February 24, 1949No. 12338PublishedCited by 45 opinions
1Opinion of the Court
HOLMES, Circuit Judge.
Were the profits in this case ordinary income or capital gains? This is the question that was before the Tax Court, which sustained the Commissioner’s determination that the profits realized were derived in the ordinary course of business, and were not capital gains under Section 117 of the Internal Revenue Code,'26 U.S.C.A. § H7.
The taxpayers are husband and wife, residents of San Antonio, Texas, and filed separate tax returns on their community income. Since the husband managed all the business from which the income was derived, he will be referred to as the taxpayer.…
2Cases cited5 opinions
- Snell v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1938
- Farley v. CommissionerUnited States Tax Court · 1946
- Richards v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1936
- Commissioner of Internal Revenue v. BoeingCourt of Appeals for the Ninth Circuit · 1939
- Greene v. CommissionerCourt of Appeals for the Fifth Circuit · 1944
3Cited by45 opinions
- Galena Oaks Corporation v. Frank Scofield, Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1954
- Walter H. Kaltreider and Irene C. Kaltreider v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1958
- Arthur W. Smith and Mrs. Arthur W. Smith v. Charles H. Dunn, Formerly Acting Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Dunlap, Acting Collector of Internal Revenue v. Oldham Lumber CoCourt of Appeals for the Fifth Circuit · 1950
- Biedenharn Realty Co. v. United StatesCourt of Appeals for the Fifth Circuit · 1976
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