Legal Opinion
Paine v. Commissioner
Court of Appeals for the Eighth Circuit
Decided July 10, 1956No. Nos. 15332, 15333PublishedCited by 7 opinions
1Opinion of the Court
JOHNSEN, Circuit Judge.
The Tax Court held, 23 T.C. 391, that each of two unrelated trusts had derived ordinary income, and not capital gain as reported in their tax returns, from sales of similar notes made by them in the years 1947, 1948 and 1949. Both situations, in their tax consequence, are before us on petitions to review the Tax Court’s decision.
Such differences in details as exist between the two situations are admittedly without significance on the result here, so that the facts can for present purposes be stated generally, in common application to both cases.
Niles Land Co. was the…
2Cases cited8 opinions
- Fairbanks v. United StatesSupreme Court of the United States · 1939
- Lee v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1941
- Paine v. CommissionerUnited States Tax Court · 1954
- Daniel Bros. Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1928
- Henrietta Mills v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1931
3 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Dixon v. United StatesSupreme Court of the United States · 1965
- United States v. Midland-Ross Corp.Supreme Court of the United States · 1965
- Commissioner of Internal Revenue v. Percy W. Phillips and Betty R. Phillips (Husband and Wife)Court of Appeals for the Fourth Circuit · 1960
- Kvp Sutherland Paper Company v. The United StatesUnited States Court of Claims · 1965
- Maurice J. Breen and Alyce J. Breen v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1964
2 more not listed; retrieve them via the Exa API.