Legal Opinion
Commissioner of Internal Revenue v. Farren
Court of Appeals for the Tenth Circuit
Decided January 28, 1936No. 1265, 1266PublishedCited by 17 opinions
1Opinion of the Court
McDERMOTT, Circuit Judge.
In 1918 the taxpayers each received 10,-000 shares of stock in the Guffey-Gillespie Oil Company, of an actual value of $9.42 per share, as compensation for services rendered. Although taxable as income for that year1 no return thereof was made because the taxpayers honestly believed that no return was necessary until the stock was sold. In 1926 Farren sold his shares for $100,770.81, and McCrary sold 9000 shares for $91,000. Each reported the sale on his income tax return for 1926, but claimed the prices received were less than the value of the stocks when acquired.…
2Cases cited16 opinions
- R. H. Stearns Co. v. United StatesSupreme Court of the United States · 1934
- Lucas v. Kansas City Structural Steel Co.Supreme Court of the United States · 1930
- Helvering v. SalvageSupreme Court of the United States · 1936
- Crowell v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1932
- Salvage v. CommissionerCourt of Appeals for the Second Circuit · 1935
11 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Commissioner of Internal Revenue v. Union Pac. R. Co.Court of Appeals for the Second Circuit · 1936
- Schmidlapp v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1938
- Continental Oil Co. v. JonesCourt of Appeals for the Tenth Circuit · 1949
- Bennet v. HelveringCourt of Appeals for the Second Circuit · 1943
- First Nat. Bank of Greeley, Colo. v. United StatesCourt of Appeals for the Tenth Circuit · 1936
12 more not listed; retrieve them via the Exa API.