Legal Opinion
Max Levine and Pennie Levine v. Commissioner of Internal Revenue, Jacob Dubrovsky and Gertrude Dubrovsky v. Commissioner of Internal Revenue
Court of Appeals for the Third Circuit
Decided October 29, 1963No. 14283_1PublishedCited by 28 opinions
1Opinion of the Court
McLAUGHLIN, Circuit Judge.
In the sale of their fuel oil business, including real estate, the taxpayer owners claimed that its physical assets comprised $50,000 of the $85,000 purchase price and that its gallonage good will amounted to the balance of $35,000. They further contended that their covenant not to compete with the buyer in the fuel oil business for seven years was simply an integral part of their gallonage guarantee; that it was not an independent arrangement with independent consideration being paid for it. The Tax Court found as to the $35,000, that 50% thereof was paid to…
2Cases cited8 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Ullman v. CommissionerCourt of Appeals for the Second Circuit · 1959
- Grace Bros. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1949
- Schulz v. CommissionerCourt of Appeals for the Ninth Circuit · 1961
- Michaels v. CommissionerUnited States Tax Court · 1949
3 more not listed; retrieve them via the Exa API.
3Cited by28 opinions
- Commissioner v. DanielsonCourt of Appeals for the Third Circuit · 1967
- Schmitz v. CommissionerUnited States Tax Court · 1968
- Emmette L. Barran and Martha Barran v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1964
- Penrod v. CommissionerUnited States Tax Court · 1987
- General Insurance Agency, Inc. v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Helen R. ThrockmortonCourt of Appeals for the Fourth Circuit · 1968
23 more not listed; retrieve them via the Exa API.