Willett v. Commissioner
United States Tax Court
Issue 1. A partnership acquired an inventory of whiskeys, represented by warehouse receipts, during the time that O.P.A. controls over whiskey prices were in effect. The partnership's business was acquiring and selling whiskey warehouse receipts. After O.P.A. controls over whiskey ended, the partnership stopped acquiring warehouse receipts; also market prices of whiskey rose.
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Issue 1. A partnership acquired an inventory of whiskeys, represented by warehouse receipts, during the time that O.P.A. controls over whiskey prices were in effect. The partnership's business was acquiring and selling whiskey warehouse receipts. After O.P.A. controls over whiskey ended, the partnership stopped acquiring warehouse receipts; also market prices of whiskey rose. The partnership gave a broker its inventory of warehouse receipts in July 1947 and told him the partners would sell their interests in the partnership. The broker gave the inventory to X who represented Y corporation. At…
1Opinion of the Court
Lambert Willett et al. 1 v. Commissioner.
Willett v. Commissioner
Docket Nos. 47500-47504.
United States Tax Court
T.C. Memo 1957-189; 1957 Tax Ct. Memo LEXIS 66; 16 T.C.M. (CCH) 840; T.C.M. (RIA) 57189;
September 30, 1957
Issue 1. A partnership acquired an inventory of whiskeys, represented by warehouse receipts, during the time that O.P.A. controls over whiskey prices were in effect. The partnership's business was acquiring and selling whiskey warehouse receipts. After O.P.A. controls over whiskey ended, the partnership stopped acquiring warehouse receipts; also market prices of whiskey rose. The…
2Cases cited13 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Commissioner v. CulbertsonSupreme Court of the United States · 1949
- Commissioner v. TowerSupreme Court of the United States · 1946
- Higgins v. SmithSupreme Court of the United States · 1940
8 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Willett v. United StatesUnited States Court of Claims · 1969
- Mary Catherine Willett v. The United States. Joseph William and Mary Grace Willett v. The United States. Robert E. And Anne T. Willett v. The United States. Charles D. Willett v. The United States. Paul A. And Elizabeth H. Willett v. The United StatesUnited States Court of Claims · 1969