McManus v. Commissioner
United States Tax Court
Messrs. McManus, Gutleben, and Chick acquired a tract of land in the industrial section of Oakland, Calif. The property was subdivided and improved and portions of it were sold. Two of these sales were attributable to condemnation activity. Held, the entity created by the petitioners constitutes a partnership. Held, further, the partnership acquired and held the property primarily for sale to customers in the ordinary course of its trade or business.
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Messrs. McManus, Gutleben, and Chick acquired a tract of land in the industrial section of Oakland, Calif. The property was subdivided and improved and portions of it were sold. Two of these sales were attributable to condemnation activity. Held, the entity created by the petitioners constitutes a partnership. Held, further, the partnership acquired and held the property primarily for sale to customers in the ordinary course of its trade or business. Held, further, the condemnation activity does not change the purpose for which those portions of the property involved were held by the…
1Opinion of the Court
OPINION
The case at bar requires us to consider procedural and substantive matters involving the years in issue before this Court. In order to dispose orderly of these issues we believe that the procedural issue should be discussed and determined at the outset., Petitioners in amendments to their petitions filed in docket Nos. 2879-73, 2880-73, arid 2881-73 assert that the deficiency notices issued by the respondent with respect to 1968 are erroneous because that year is barred by the statute of limitations. The facts with respect to this issue are mainly uncontested.
The petitioners all timely…
2Cases cited18 opinions
- Malat v. RiddellSupreme Court of the United States · 1966
- United States v. Ada Belle Winthrop, Individually and as Under the Will of Guy L. Winthrop, DeceasedCourt of Appeals for the Fifth Circuit · 1969
- Dunlap, Acting Collector of Internal Revenue v. Oldham Lumber CoCourt of Appeals for the Fifth Circuit · 1950
- Howell v. CommissionerUnited States Tax Court · 1972
- Greylock Mills v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1929
13 more not listed; retrieve them via the Exa API.
3Cited by61 opinions
- Brannen v. CommissionerUnited States Tax Court · 1982
- Grunwald v. CommissionerUnited States Tax Court · 1986
- Buono v. CommissionerUnited States Tax Court · 1980
- Daugherty v. CommissionerUnited States Tax Court · 1982
- McManus v. CommissionerCourt of Appeals for the Ninth Circuit · 1978
56 more not listed; retrieve them via the Exa API.