Legal Opinion
J. Stewart Mathews and Viola I. Mathews v. Commissioner of Internal Revenue, J. Stewart Mathews v. Commissioner of Internal Revenue
Court of Appeals for the Sixth Circuit
Decided March 22, 1963No. 14835-14836_1PublishedCited by 19 opinions
1Opinion of the Court
McALLISTER, Senior Circuit Judge.
This is a consolidated appeal from the decision of the Tax Court holding petitioner, Dr. J. Stewart Mathews, liable for income taxes for the taxable year of 1956, and holding petitioners, Dr. Mathews and his wife, liable for income taxes for the taxable year of 1955.
The ground upon which the Tax Court based its decision was that the income taxed was not capital gain resulting from the sales of capital assets, but ordinary income, since it resulted from the sale of property “held by the taxpayer primarily for sale to customers in the ordinary course of his…
2Cases cited5 opinions
- Walter H. Kaltreider and Irene C. Kaltreider v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1958
- Raymond Bauschard v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1960
- Curtis Company (Formerly Curtis Engineering Company) v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1956
- Lobello v. DunlapCourt of Appeals for the Fifth Circuit · 1954
- Jones v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1954
3Cited by19 opinions
- Philhall Corporation v. United StatesCourt of Appeals for the Sixth Circuit · 1976
- Francis E. Gartrell and Mabel L. Gartrell v. United StatesCourt of Appeals for the Sixth Circuit · 1980
- Guardian Indus. Corp. v. CommissionerUnited States Tax Court · 1991
- Lester R. Ackerman and Wife, Edna Del Ackerman v. United StatesCourt of Appeals for the Fifth Circuit · 1964
- Samuel S. Broughton and Loretta T. Broughton v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1964
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