Legal Opinion
John W. Rogers and Creta B. Rogers v. United States
Court of Appeals for the Ninth Circuit
Decided April 3, 1961No. 16851_1PublishedCited by 27 opinions
1Per curiam
The judgment of the trial court is affirmed in that its findings on the facts are not clearly erroneous.
The taxpayers probably have been maneuvered by their purchaser into a big tax disadvantage. But, when in their second option, they agreed in writing after negotiation to the assignment of some |60,900 as consideration for a covenant not to compete, the trial court could refuse to go behind the agreement and uphold the commissioner in treating the sum as ordinary income. We find Hamlin’s Trust v. Commissioner, 10 Cir., 209 F.2d 761, pertinent and a case that should be followed here.
Had there…
2Cases cited2 opinions
- Gray v. PowellSupreme Court of the United States · 1941
- Hamlin's Trust v. Commissioner of Internal Revenue. Nowel's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1954
3Cited by27 opinions
- Commissioner v. DanielsonCourt of Appeals for the Third Circuit · 1967
- Danielson v. CommissionerUnited States Tax Court · 1965
- Schulz v. CommissionerCourt of Appeals for the Ninth Circuit · 1961
- Annabelle Candy Co. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1962
- Charles W. Balthrope and Mary v. Balthrope v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1966
22 more not listed; retrieve them via the Exa API.