Legal Opinion
PITTSBURGH-DES MOINES STEEL COMPANY v. United States
District Court, W.D. Pennsylvania
Decided June 15, 1973No. Civ. A. 70-47PublishedCited by 4 opinions
1Opinion of the Court
OPINION
TEITELBAUM, District Judge.
The principal issue in this case is whether the gain from the sale of stock by taxpayer, Pittsburgh-Des Moines Steel Company (PDM), is taxable in 1960 or in 1961. The Government claims that the sale was taxable in 1960 and the taxpayer contends that the gain was taxable when payment was made in 1961. Both parties have moved for summary judgment.
In 1960 PDM held 15,960 shares of stock of Horton Steel Works, Limited (Horton). The remainder 1 2 of Horton stock was owned by Chicago Bridge & Iron Company (Chicago Bridge), which was desirous of obtaining complete…
2Cases cited8 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Agar v. OrdaNew York Court of Appeals · 1934
- Commissioner of Internal Revenue v. OatesCourt of Appeals for the Seventh Circuit · 1953
- Hedden v. LupinskySupreme Court of Pennsylvania · 1962
- Selig v. Philadelphia Title InsuranceSupreme Court of Pennsylvania · 1955
3 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Schniers v. CommissionerUnited States Tax Court · 1977
- Sainte Claire Corp. v. CommissionerUnited States Tax Court · 1997
- Effect of 31 U.S.C. § 484 on the Settlement Authority of the Attorney General, Department of Justice Office of Legal Counsel1980
- Schniers v. CommissionerUnited States Tax Court · 1977