Legal Opinion
Vukasovich, Inc. v. Commissioner of Internal Revenue, Vukasovich, Inc. v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided June 2, 1986No. 85-7256, 85-7326PublishedCited by 56 opinions
1Opinion of the Court
GOODWIN, Circuit Judge:
As part of a settlement of disputes arising out of a cattle-feeding agreement, Vukasovich, Inc. paid approximately $212,000 to Sunset Cattle Co., which in turn agreed to pay $200,000 to Coit Ranch, to which Vukasovich owed $237,000. The Commissioner appeals from the Tax Court's holding that Vukasovich did not realize $37,000 in income from the cancellation of indebtedness. Vukasovich cross-appeals from the Tax Court’s finding that the payment was a nondeductible repayment of a loan rather than a deductible settlement. We reverse the Tax Court’s decision that Vukasovich…
2Cases cited43 opinions
- Batson v. KentuckySupreme Court of the United States · 1986
- Swain v. AlabamaSupreme Court of the United States · 1965
- West Virginia State Board of Education v. BarnetteSupreme Court of the United States · 1943
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Commissioner v. Glenshaw Glass Co.Supreme Court of the United States · 1955
38 more not listed; retrieve them via the Exa API.
3Cited by56 opinions
- Randall L. Beisler and Judith K. Beisler v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1987
- Lucille Prussner, as of the Estate of Aileen E. Pfeifer v. United StatesCourt of Appeals for the Seventh Circuit · 1990
- Clougherty Packing Company v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1987
- Daniel M. Kelley Nancey N. Kelley v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1989
- Samuels, Kramer & Company v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1991
51 more not listed; retrieve them via the Exa API.