Municipal Bond Corp. v. Commissioner
United States Tax Court
On remand from Court of Appeals for the Eighth Circuit, it is determined which properties sold by petitioner during the years involved were sales of properties held primarily, or principally, for sale to customers in the ordinary course of petitioner's trade or business.
1Opinion of the Court
Deennen, Judge:
This case is presently before the Court on remand from the U.'S. Court of Appeals for the Eighth Circuit (341 F. 2d 683). The only issue is whether various parcels of real estate sold by petitioner during the years here involved, and parcels sold in prior years on installment sales contracts, payments under which were received by petitioner during the years here involved, constituted property held by the taxpayer primarily for sale to customers in the ordinary course of its trade or business within the meaning of section 1221 of the 1954 Code1 so that the profit realized and…
2Cases cited12 opinions
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Malat v. RiddellSupreme Court of the United States · 1966
- Commissioner v. Gillette Motor Transport, Inc.Supreme Court of the United States · 1960
- Rollingwood Corp. v. Commissioner of Internal Revenue. Bohannon v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1951
- Phillips v. Comissioner of Internal RevenueUnited States Tax Court · 1955
7 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- The Municipal Bond Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1967
- Maddux Construction Co. v. CommissionerUnited States Tax Court · 1970
- Kirk v. CommissionerUnited States Tax Court · 1966
- Maddux Constr. Co. v. CommissionerUnited States Tax Court · 1970
- Goodman v. United StatesUnited States Court of Claims · 1968
11 more not listed; retrieve them via the Exa API.