Legal Opinion
Hallcraft Homes, Inc. v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided September 11, 1964No. 18883_1PublishedCited by 11 opinions
1Opinion of the Court
BARNES, Circuit Judge.
Petitioner petitions for a review of the decision of the Tax Court holding that a lump sum payment received by petitioner for the transfer of waterline refund agreements to the City of Phoenix was taxable as ordinary income rather than as capital gain. 40 T.C. 199. This court has jurisdiction of the petition pursuant to 26 U.S.C. § 7482 (§ 7482 of the Internal Revenue Code of 1954.) All references to sections are to sections in that Code, unless otherwise noted.
The facts are not in dispute. Taxpayer is a subdivider and land developer. In the mid-1950’s it was necessary…
2Cases cited13 opinions
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Commissioner v. P. G. Lake, Inc.Supreme Court of the United States · 1958
- Hort v. CommissionerSupreme Court of the United States · 1941
- Albert Gersten, Myron P. Beck and Ann H. Beck, Milton Gersten and Mary Gersten v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1959
- State Farm Mutual Automobile Insurance v. PalmerSupreme Court of the United States · 1956
8 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Bresler v. CommissionerUnited States Tax Court · 1975
- Herzog Bldg. Corp. v. CommissionerUnited States Tax Court · 1965
- Hollywood Baseball Association v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1970
- United States v. J. Michael Maginnis Janet Y. MaginnisCourt of Appeals for the Ninth Circuit · 2004
- Foxe v. CommissionerUnited States Tax Court · 1969
6 more not listed; retrieve them via the Exa API.