Legal Opinion · Dissent
Curtis Company (Formerly Curtis Engineering Company) v. Commissioner of Internal Revenue
Court of Appeals for the Third Circuit
Decided March 30, 1956No. 11765_1Published
1DissentMcLAUGHLIN, Circuit Judge
(dissenting) .
Section 117(j) of the Internal Revenue Code of 1939, as amended, 26 U.S.C. 117 (j), accords capital gain treatment to “property used in the trade or business” unless the property is inventory or “held * * * for sale to customers”. The Supreme Court recently in construing this section stated “Since this section is an exception from the normal tax * * * j-jy must be narrowly applied and its exclusions interpreted broadly.” 1 Our Saltzman v. Commissioner, 3 Cir., 1955, 227 F.2d 49 is very much in point and does, I think, govern here. By any and all of the established criteria, i.…
2Cases cited20 opinions
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Higgins v. CommissionerSupreme Court of the United States · 1941
- Great Northern Railway Co. v. United StatesSupreme Court of the United States · 1942
- Galena Oaks Corporation v. Frank Scofield, Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1954
- Rollingwood Corp. v. Commissioner of Internal Revenue. Bohannon v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1951
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