Legal Opinion
Yara Engineering Corporation v. Commissioner of Internal Revenue
Court of Appeals for the Third Circuit
Decided April 15, 1965No. 14892_1PublishedCited by 9 opinions
1Per curiam
In this petition for review the basic facts are not in dispute. However, the taxpayer seeks to reverse the Tax Court’s holding that fourteen out of sixteen parcels of real estate were held by it primarily for the sale to customers in the ordinary course of its trade or business, rather than, as it contended, as capital assets, within the meaning of § 1221(1) of the 1954 Internal Revenue Code, 26 U.S.C. § 1221(1), and that gains from sales of those parcels are to be taxed as ordinary income for the years 1955 and 1956, instead of as capital gains. 1
The question of whether property sold by a…
2Cases cited11 opinions
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Boehm v. CommissionerSupreme Court of the United States · 1945
- Commissioner v. Gillette Motor Transport, Inc.Supreme Court of the United States · 1960
- MAULDIN v. COMMISSIONER OF INTERNAL REVENUE (Two Cases)Court of Appeals for the Tenth Circuit · 1952
6 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Berger v. CommissionerCourt of Appeals for the Third Circuit · 1968
- Jersey Land and Development Corporation, a New Jersey Corp. v. United StatesCourt of Appeals for the Third Circuit · 1976
- Milton Berger and Ruth K. Berger (Deceased) v. Commissioner of Internal Revenue, Pennsylvania Papyrus Corporation v. Commissioner of Internal Revenue, Joseph Yovanovich and Ann Yovanovich v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1968
- Robert H. Lewis, Jr., and Eleanor R. Lewis v. The United States. Jacob Tufano and Helen Tufano v. The United StatesUnited States Court of Claims · 1968
- Estate of Samuel Segel, Deceased, Margaret D. Segel, and Margaret D. Segel v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1966
4 more not listed; retrieve them via the Exa API.