Arnwine v. Commissioner
United States Tax Court
In March 1973, petitioners, before they planted their 1973 cotton crop, sold that crop to cotton buyers through a cotton gin which contacted them seeking to purchase their cotton. Contracts of sale described petitioner-husband as grower, the gin as seller, and the buyers as buyers, and specified the price to be paid for various grades and staples of cotton, delivery terms, and the cotton gin which would gin the cotton.
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In March 1973, petitioners, before they planted their 1973 cotton crop, sold that crop to cotton buyers through a cotton gin which contacted them seeking to purchase their cotton. Contracts of sale described petitioner-husband as grower, the gin as seller, and the buyers as buyers, and specified the price to be paid for various grades and staples of cotton, delivery terms, and the cotton gin which would gin the cotton. The contract contained no provision as to time of delivery of the cotton or time of payment therefor. In November 1973, petitioner-husband and the gin executed a deferred…
1Opinion of the Court
Billy E. Arnwine and Shirley S. Arnwine, Petitioners v. Commissioner of Internal Revenue, Respondent
Arnwine v. Commissioner
Docket No. 9348-76
United States Tax Court
76 T.C. 532; 1981 U.S. Tax Ct. LEXIS 149;
April 2, 1981, Filed
Decision will be entered under Rule 155.
In March 1973, petitioners, before they planted their 1973 cotton crop, sold that crop to cotton buyers through a cotton gin which contacted them seeking to purchase their cotton. Contracts of sale described petitioner-husband as grower, the gin as seller, and the buyers as buyers, and specified the price to be paid for various…
2Cases cited11 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Lubbock Feed Lots, Inc., and Lockney Cooperative Gin v. Iowa Beef Processors, Inc.Court of Appeals for the Fifth Circuit · 1980
- H. O. Williams and Mrs. Ada L. Williams v. United StatesCourt of Appeals for the Fifth Circuit · 1955
- Valley View Cattle Company v. Iowa Beef Processors, Inc.Court of Appeals for the Fifth Circuit · 1977
- Thayer v. Pacific Electric Railway Co.California Supreme Court · 1961
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