Legal Opinion
United States v. S & a Company
Court of Appeals for the Eighth Circuit
Decided November 27, 1964No. 17555_1PublishedCited by 14 opinions
1Opinion of the Court
BLACKMUN, Circuit Judge.
This tax controversy centers on the unanticipated and non-customary good-faith sale, during the taxpayer’s fiscal year 1956, of all operating assets used in its business of manufacturing and marketing outboard motors. The sale price was greater than the assets’ adjusted basis at the beginning of the tax year and, indeed, was even greater than original cost. The question is whether, on these facts, the taxpayer is entitled to any deduction for depreciation on the sale assets in the sale year. Chief Judge Devitt found that the deduction claimed was a “reasonable…
2Cases cited28 opinions
- Automobile Club of Mich. v. CommissionerSupreme Court of the United States · 1957
- United States v. LudeySupreme Court of the United States · 1927
- Massey Motors, Inc. v. United StatesSupreme Court of the United States · 1960
- Detroit Edison Co. v. CommissionerSupreme Court of the United States · 1943
- Virginian Hotel Corporation v. Helvering, Commissioner of Internal RevenueSupreme Court of the United States · 1943
23 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Fribourg Navigation Co. v. CommissionerSupreme Court of the United States · 1966
- Commissioner v. RissCourt of Appeals for the Eighth Circuit · 1967
- Commissioner of Internal Revenue v. Richard R. Riss, Sr., Richard R. Riss, Sr. v. Commissioner of Internal Revenue, (Two Cases). Richard R. Riss, Sr. And Helen G. Riss v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1967
- Craig v. ColburnDistrict Court, D. Kansas · 1976
- Bell Lines, Inc. v. CommissionerUnited States Tax Court · 1964
9 more not listed; retrieve them via the Exa API.