Legal Opinion
Commissioner of Internal Revenue v. Simmons Gin Co.
Court of Appeals for the Tenth Circuit
Decided August 11, 1930No. 251PublishedCited by 11 opinions
1Opinion of the Court
PHILLIPS, Circuit Judge.
The Commissioner of Internal Revenue assessed deficiencies in income taxes against the Simmons Gin Company for the fiscal years ended April 30, 1923, and April 30, 1924.
Prior to August, 1920, the Gin Company purchased a large amount of cotton for cash. It shipped the greater part of such cotton for re-sale to two commission firms in New Orleans. Such commission firms honored drafts for large amounts in favor of the Gin Company, based upon the then market value of the cotton. Beginning in August, 1920, the cotton market declined sharply, leaving the Gin Company…
2Cases cited9 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Eisner, Internal Revenue Collector v. MacOmberSupreme Court of the United States · 1919
- Maryland Casualty Co. v. United StatesSupreme Court of the United States · 1920
- United States v. PhellisSupreme Court of the United States · 1921
- Bowers v. Kerbaugh-Empire Co.Supreme Court of the United States · 1926
4 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Commissioner of Internal Revenue v. Rail Joint Co.Court of Appeals for the Second Circuit · 1932
- Brutsche v. CommissionerUnited States Tax Court · 1976
- Walker v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1937
- Gehl v. CommissionerUnited States Tax Court · 1994
- State ex rel. Bottcher v. BartlingNebraska Supreme Court · 1948
6 more not listed; retrieve them via the Exa API.