Legal Opinion
Frost Lumber Industries v. Commissioner of Int. Rev.
Court of Appeals for the Fifth Circuit
Decided June 11, 1942No. 10160PublishedCited by 27 opinions
1Opinion of the Court
HUTCHESON, Circuit Judge.
Another of those touch and go tax cases where the decision seems to turn not upon the facts as mere facts but upon the emphasis placed upon one fact as opposed to another, the question presented here is whether the profit from a sale of land accrued in 1935, as claimed by the taxpayer, when a binding contract for sale was made and most of the things necessary to be done were done or in 1936 when the title was formally accepted and the purchase money paid.
The rule that an item accrues for purposes of taxation when all events have occurred necessary to fix the…
2Cases cited11 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Lucas v. American Code Co.Supreme Court of the United States · 1930
- Spring City Foundry Co. v. CommissionerSupreme Court of the United States · 1934
- Lucas v. North Texas Lumber Co.Supreme Court of the United States · 1930
- American National Co. v. United StatesSupreme Court of the United States · 1927
6 more not listed; retrieve them via the Exa API.
3Cited by27 opinions
- Universal Oil Products Co. v. Campbell (United States, Intervenor) (Two Cases)Court of Appeals for the Seventh Circuit · 1950
- The Cappel House Furnishing Company v. United StatesCourt of Appeals for the Sixth Circuit · 1957
- Texas Trailercoach, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1958
- Marquardt Corp. v. CommissionerUnited States Tax Court · 1962
- Clifton E. Baird and Violet L. Baird v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1958
22 more not listed; retrieve them via the Exa API.