Legal Opinion
Campbell Taggart, Inc. v. United States
Court of Appeals for the Fifth Circuit
Decided October 19, 1984No. 83-1528PublishedCited by 15 opinions
1Opinion of the Court
RANDALL, Circuit Judge:
The United States appeals from a judgment granting a corporate taxpayer a refund for federal income taxes paid in 1975. The issue presented is whether the taxpayer is entitled, under the Corn Products doctrine, to an ordinary deduction for losses sustained on the sale of stock in a foreign corporation. For the reasons set forth below, we agree that the taxpayer sustained an ordinary rather than a capital loss. We affirm. 552 F.Supp. 355.
I. FACTUAL AND PROCEDURAL BACKGROUND.
A. Facts.
Campbell Taggart, Inc. (“CTI”) claimed an ordinary deduction on its 1975 federal income…
2Cases cited44 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Atlantic Cleaners & Dyers, Inc. v. United StatesSupreme Court of the United States · 1932
- Higgins v. CommissionerSupreme Court of the United States · 1941
39 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Arkansas Best Corp. v. CommissionerSupreme Court of the United States · 1988
- Azar Nut Company v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1991
- Arkansas Best Corp. v. CommissionerCourt of Appeals for the Eighth Circuit · 1986
- Cenex, Inc., (Formerly Known as Farmers Union Central Exchange, Inc.,) and Subsidiaries v. United StatesCourt of Appeals for the Federal Circuit · 1998
- Circle K Corp. v. United StatesUnited States Court of Claims · 1991
10 more not listed; retrieve them via the Exa API.