Legal Opinion
Commissioner of Internal Revenue v. Maurice L. Killian
Court of Appeals for the Fifth Circuit
Decided March 14, 1963No. 19386_1PublishedCited by 71 opinions
1Opinion of the Court
CARSWELL, District Judge.
The sole issue for review here is whether $12,500 received by the taxpayer in connection with an agreement of sale and dissolution of a partnership engaged in the insurance business should be taxed as capital gain or as ordinary income.
Upon a full record, the Tax Court entered its findings and concluded that what was sold in this instance was a capital asset under Title 26 United States Code § 1221.
Although there is considerable tug-of-war between the parties here on the proper terminology to be placed on the facts and the resulting application of law, the facts…
2Cases cited6 opinions
- Commissioner v. P. G. Lake, Inc.Supreme Court of the United States · 1958
- Commissioner of Internal Revenue v. José FerrerCourt of Appeals for the Second Circuit · 1962
- Nelson Weaver Realty Company, and Nelson Weaver Mortgage Company, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1962
- V. L. Phillips & Co., Inc. v. Pennsylvania Threshermen & Farmers' Mut. Cas. Ins. CoCourt of Appeals for the Fourth Circuit · 1952
- Aitken v. CommissionerUnited States Tax Court · 1960
1 more not listed; retrieve them via the Exa API.
3Cited by71 opinions
- Houston Chronicle Publishing Company, Plaintiff-Appellee-Cross v. United States of America, Defendant-Appellant-CrossCourt of Appeals for the Fifth Circuit · 1973
- Commissioner of Internal Revenue v. Seaboard Finance Company, Seaboard Finance Company, Cross v. Commissioner of Internal Revenue, CrossCourt of Appeals for the Ninth Circuit · 1966
- Charles W. Balthrope and Mary v. Balthrope v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1966
- United States v. All Assets of Statewide Auto Parts, Inc.Court of Appeals for the Second Circuit · 1992
- Computing & Software, Inc. v. CommissionerUnited States Tax Court · 1975
66 more not listed; retrieve them via the Exa API.