Everhart v. Commissioner
United States Tax Court
Held: The sale of a shipyard by petitioner Edgar S. Everhart to petitioner Associated Naval Architects is to be respected for tax purposes. Held further: Marine railways, piers and wharves involved herein are properties described in section 1250 and thus the recapture provision of that section is to be applied.
1Opinion of the Court
EDGAR S. EVERHART JR., AND HELEN E. EVERHART, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent; ASSOCIATED NAVAL ARCHITECTS, INC., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Everhart v. Commissioner
Docket Nos. 11631-78, 11746-78.
United States Tax Court
T.C. Memo 1982-396; 1982 Tax Ct. Memo LEXIS 354; 44 T.C.M. (CCH) 459; T.C.M. (RIA) 82396;
July 14, 1982.
Held: The sale of a shipyard by petitioner Edgar S. Everhart to petitioner Associated Naval Architects is to be respected for tax purposes. Held further: Marine railways, piers and wharves involved herein are…
2Cases cited20 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Gregory v. HelveringSupreme Court of the United States · 1935
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Corliss v. BowersSupreme Court of the United States · 1930
- Frank Lyon Co. v. United StatesSupreme Court of the United States · 1978
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3Cited by1 opinion
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