Legal Opinion
Morrissey v. Commissioner
Court of Appeals for the Ninth Circuit
Decided March 15, 2001No. 99-71013PublishedCited by 13 opinions
1Opinion of the Court
NOONAN, Circuit Judge:
The executors of the Estate of Alice Friedlander Kaufman appeal the judgment of the Tax Court assessing a deficiency of $209,546 against the Estate. We hold that the Tax Court disregarded what should have been dispositive, viz., the price at which stock owned by the Estate had traded between willing and knowledgeable buyers and sellers. Accordingly, we reverse the judgment and remand to the Tax Court for entry of judgment for the Estate.
BACKGROUND AND PROCEEDINGS
The asset of the Estate to be valued is 46,020 class A shares of Seminole Manufacturing Co. (Seminole).…
2Cases cited10 opinions
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- United States v. CartwrightSupreme Court of the United States · 1973
- Young Men's Christian Assn. of Columbus v. DavisSupreme Court of the United States · 1924
- Estate of Andrews v. CommissionerUnited States Tax Court · 1982
- Propstra v. United StatesCourt of Appeals for the Ninth Circuit · 1982
5 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- McCord v. Comm'rUnited States Tax Court · 2003
- Chapman Glen Ltd. v. CommissionerUnited States Tax Court · 2013
- Caracci v. Comm'rUnited States Tax Court · 2002
- Caracci v. Comm'rUnited States Tax Court · 2002
- Cave Buttes, L.L.C. v. Comm'rUnited States Tax Court · 2016
8 more not listed; retrieve them via the Exa API.