Legal Opinion
Alworth-Washburn Co. v. Helvering
Court of Appeals for the D.C. Circuit
Decided November 6, 1933No. 5858PublishedCited by 9 opinions
1Opinion of the Court
GRONER, Associate Justice.
Petitioner is a Minnesota corporation. It was in process of liquidation and in 1926 sold all of its remaining assets for a little less than $600,060. The cash received did not exceed one-fourth of the total purchase price. It therefore elected to report the income from the transaction on the installment basis, and this was accepted by the Commissioner.
The applicable statute is section 212 (d) of the Revenue Act of 19-26 (44 Stat. 23, 26 USCA § 953 (d). Under the provisions of this section a taxpayer who sells real property, where the initial payment does not exceed…
2Cases cited7 opinions
- North American Oil Consolidated v. BurnetSupreme Court of the United States · 1932
- Burnet v. Sanford & Brooks Co.Supreme Court of the United States · 1931
- Weiss v. StearnSupreme Court of the United States · 1924
- Burnet v. Thompson Oil & Gas Co.Supreme Court of the United States · 1931
- National Bank v. JohnsonSupreme Court of the United States · 1881
2 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- DeBerry v. First Government Mortgage & Investors Corp.District of Columbia Court of Appeals · 1999
- East Coast Equipment Company v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1955
- United States v. Investors Diversified Services, Inc.District Court, D. Minnesota · 1951
- Bichel Optical Laboratories, Inc. v. Marquette National BankDistrict Court, D. Minnesota · 1971
- Capital One Financial Corp. v. CommissionerCourt of Appeals for the Fourth Circuit · 2011
4 more not listed; retrieve them via the Exa API.