Legal Opinion
Home Co., Inc. v. Commissioner of Internal Revenue
Court of Appeals for the Tenth Circuit
Decided May 12, 1954No. 4770PublishedCited by 49 opinions
1Opinion of the Court
HUXMAN, Circuit Judge.
This appeal challenges the correctness of a decision of the Tax Court, holding that certain houses sold by appellant taxpayer during 1946 constituted “property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business,” within the exclusionary clause of Section 117(a), 26 U.S.C.A. of the Internal Revenue Code.
Under Section 117 of the Internal Revenue Code, a taxpayer is en titled to preferential treatment with respect to gain realized from the sale of capital assets save with respect to the sales covered by Subsection (a) of…
2Cases cited6 opinions
- Helvering v. National Grocery Co.Supreme Court of the United States · 1938
- Commissioner v. Scottish American Investment Co.Supreme Court of the United States · 1945
- MAULDIN v. COMMISSIONER OF INTERNAL REVENUE (Two Cases)Court of Appeals for the Tenth Circuit · 1952
- Friend v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1952
- White v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1949
1 more not listed; retrieve them via the Exa API.
3Cited by49 opinions
- Galena Oaks Corporation v. Frank Scofield, Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1954
- Phillips v. Comissioner of Internal RevenueUnited States Tax Court · 1955
- Thelma Rosenberg v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Nathan D. Goldberg and S. E. Wood, Jr. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Raymond Bauschard v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1960
44 more not listed; retrieve them via the Exa API.