Legal Opinion
Consolidated Naval Stores Company v. John L. Fahs, Collector of Internal Revenue in the State of Florida
Court of Appeals for the Fifth Circuit
Decided December 13, 1955No. 15416_1PublishedCited by 38 opinions
1Opinion of the Court
JONES, Circuit Judge.
Again a question is presented as to whether profits resulting from the sale of land are to be regarded and subjected to Federal income taxation as ordinary income, or be given preferential capital gains treatment. Involved is Section 117(j) of the- Internal Revenue Code of 1939, as amended, the pertinent portion of which is:
“(1) Definition of property used in the trade or business. For the purposes of this subsection, the term ‘property used in the trade or business’ means property used in the trade or business, of a character which is subject to the allowance for…
2Cases cited7 opinions
- Galena Oaks Corporation v. Frank Scofield, Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1954
- Arthur W. Smith and Mrs. Arthur W. Smith v. Charles H. Dunn, Formerly Acting Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Nathan D. Goldberg and S. E. Wood, Jr. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Lehmann v. AchesonCourt of Appeals for the Third Circuit · 1953
- Julian E. Ross and Gertrude A. Ross v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
2 more not listed; retrieve them via the Exa API.
3Cited by38 opinions
- United States v. Ada Belle Winthrop, Individually and as Under the Will of Guy L. Winthrop, DeceasedCourt of Appeals for the Fifth Circuit · 1969
- Matter of Willis C. Pioch, Bankrupt, Willis C. PiochCourt of Appeals for the Third Circuit · 1956
- Ayling v. CommissionerUnited States Tax Court · 1959
- Harry P. Gamble, Jr., and Gretchen B. Gamble, Husband and Wife v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- Robert Thomas and Susan B. Thomas v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1958
33 more not listed; retrieve them via the Exa API.