Legal Opinion
In the Matter of Indian Lake Estates, Inc., Bankrupt. United States of America v. Ernest L. Stewart, Trustee
Court of Appeals for the Fifth Circuit
Decided September 14, 1971No. 30960_1PublishedCited by 35 opinions
1Opinion of the Court
CLARK, Circuit Judge:
An issue familiar to tax litigation— whether funds supplied to a business are, in substance, debt or equity — arises in an unusual context in the present appeal. The trustee of a bankrupt corporation challenges the validity of priority tax claims filed by the United States. 1 The challenged claims were based upon deficiency assessments by the Commissioner of Internal Revenue which disallowed corporate income tax deductions related to debenture bonds and discounted land purchase installment contracts. Finding that the record fails to rebut the presumably correct assessment…
2Cases cited8 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Jean C. Tyler and Dolly Ann Tyler v. Laurie W. Tomlinson, District Director of Internal RevenueCourt of Appeals for the Fifth Circuit · 1969
- Montclair, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1963
- Michael Berkowitz and Harris Kolbert, as Last Directors and Liquidating Trustees of K & B Trail Properties, Inc. v. United StatesCourt of Appeals for the Fifth Circuit · 1969
- John W. And Marie B. Dillin v. United StatesCourt of Appeals for the Fifth Circuit · 1970
3 more not listed; retrieve them via the Exa API.
3Cited by35 opinions
- Estate of Travis Mixon, Jr. v. United StatesCourt of Appeals for the Fifth Circuit · 1972
- Haag v. CommissionerUnited States Tax Court · 1987
- In the Matter of Uneco, Inc., Bankrupt. United States of America v. Uneco, Inc.Court of Appeals for the Eighth Circuit · 1976
- Stinnett's Pontiac Service, Inc., Richard W. Stinnett and Gay P. Stinnett v. Commissioner of Internal Revenue ServiceCourt of Appeals for the Eleventh Circuit · 1984
- Plantation Patterns, Incorporated v. Commissioner of Internal Revenue, John S. Jemison, Jr. And Marie S. Jemison v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1972
30 more not listed; retrieve them via the Exa API.