Legal Opinion
The United States v. Agway, Inc., Successor to Cooperative Grange League Federation Exchange, Inc.
Court of Appeals for the Federal Circuit
Decided November 9, 1982No. Appeal 126-78Published
1Per curiam
DECISION
The judgment ** of the United States Claims Court determining that the amounts realized on the redemption of the United stock here in controversy (over and above the fair market value previously reported) is to be treated as a long-term capital gain and taxed accordingly, and that plaintiff is entitled to recover additional tax paid on those amounts as ordinary income (with the specific amounts to be determined by the United States Claims Court), is affirmed.
OPINION
This is a suit for refund of income tax for appellee’s fiscal year ending June 30, 1962. The Claims Court decided that…
2Cases cited8 opinions
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- South Corporation and Seal Fleet, Inc. v. The United StatesCourt of Appeals for the Federal Circuit · 1982
- United States v. Mississippi Chemical Corp.Supreme Court of the United States · 1972
- Long Poultry Farms, Incorporated v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1957
- Commissioner of Internal Revenue v. B. A. CarpenterCourt of Appeals for the Fifth Circuit · 1955
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