Legal Opinion
John K. Teaford v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided June 7, 1957No. 11884_1PublishedCited by 3 opinions
1Opinion of the Court
FINNEGAN, Circuit Judge.
This appeal presents the question, cutting across five cases heard and consolidated by the tax court, of when a sale transaction is considered consummated for tax purposes. Holding the sale of the partnership interests involved not to have been closed in 1943, the tax court found adversely to appellants on their several petitions tendering issues based on deficiencies and overpayments in income and victory tax for the calendar years 1942, 1943, 1944 and 1945.
Some stipulated facts, parol and documentary evidence introduced during the tax court proceedings, comprise the…
2Cases cited3 opinions
- Lucas v. North Texas Lumber Co.Supreme Court of the United States · 1930
- Commissioner of Internal Revenue v. SegallCourt of Appeals for the Sixth Circuit · 1940
- Teaford v. CommissionerUnited States Tax Court · 1955
3Cited by3 opinions
- Hyman Smith and Lillian Smith v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Morris Smith and Esther SmithCourt of Appeals for the Seventh Circuit · 1964
- Maxcy v. CommissionerUnited States Tax Court · 1973
- Maxcy v. CommissionerUnited States Tax Court · 1973