Legal Opinion
Bernard D. Spector v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided April 3, 1981No. 79-3394PublishedCited by 68 opinions
1Opinion of the Court
SAM D. JOHNSON, Circuit Judge:
In this suit brought against the Commissioner of Internal Revenue for redetermination of tax deficiencies for the years 1972 and 1973, the principal issue is whether a transaction in which taxpayer surrendered his partnership interest in an accounting firm in exchange for a specified sum constitutes a “sale” of his partnership interest, thus creating long term capital gain under section 741 of the Internal Revenue Code of 1954, or whether the transaction was a “liquidation” of taxpayer’s interest under section 707(c), thus producing ordinary income gain under…
2Cases cited25 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
- Higgins v. SmithSupreme Court of the United States · 1940
- Commissioner v. National Alfalfa Dehydrating & Milling Co.Supreme Court of the United States · 1974
20 more not listed; retrieve them via the Exa API.
3Cited by68 opinions
- Coleman v. CommissionerUnited States Tax Court · 1986
- Fono v. CommissionerUnited States Tax Court · 1982
- Comdisco, Inc. v. United StatesCourt of Appeals for the Seventh Circuit · 1985
- Merrill N. Bradley and John R. Murray v. United StatesCourt of Appeals for the Eleventh Circuit · 1984
- North American Rayon Corporation, Formerly Known as North American Holding Corporation, Narco v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1994
63 more not listed; retrieve them via the Exa API.