Legal Opinion
United States v. T. W. And Evelyn B. Wheeler
Court of Appeals for the Fifth Circuit
Decided February 27, 1963No. 19178PublishedCited by 16 opinions
1Opinion of the Court
RIVES, Circuit Judge.
This appeal involves the question whether $56,641.41 paid1 by appellee taxpayer2 in compromise and settlement of a state court action charging him with breach of a contract3 to sell the controlling stock interest in three corporations constituted nondeductible capital expenditures to be added to the cost basis of the stock or currently deductible expenses.
The district court, sitting without a jury, found: “That the reason T. W. Wheeler made the payment of $54,-675.95 to A. G. Ainsworth at the time of the settlement of said law suit, was to prevent the appointment of a…
2Cases cited6 opinions
- Interstate Transit Lines v. CommissionerSupreme Court of the United States · 1943
- United States v. General Geophysical CompanyCourt of Appeals for the Fifth Circuit · 1961
- Joseph Lewis v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1958
- E. W. Brown, Jr. And Gladys Slade Brown v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1954
- Levitt & Sons, Inc. v. NunanCourt of Appeals for the Second Circuit · 1944
1 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Harrison E. Spangler and Myrtle B. Spangler v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1963
- Anchor Coupling Company, Inc. v. United StatesCourt of Appeals for the Seventh Circuit · 1970
- Estate of Joseph P. Morgan, Deceased and Margaret Koehler Morgan, Surviving Spouse v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1964
- Madden v. CommissionerUnited States Tax Court · 1972
- United States v. J. A. Morgan and Myra S. MorganCourt of Appeals for the Fifth Circuit · 1963
11 more not listed; retrieve them via the Exa API.