Legal Opinion
Elsie W. Faroll, of the Estate of Barnett Faroll, Deceased v. John T. Jarecki, Collector of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided March 15, 1956No. 11542_1PublishedCited by 31 opinions
1Opinion of the Court
FINNEGAN, Circuit Judge.
A judgment of the District Court, in substance, grounded on a finding that commodity futures sold by the taxpayer, Barnett Faroll,1 2during the year 1943 constituted property held by him primarily for sale (and that sales were made) to customers in the ordinary course of his trade or business, is appealed by the defendant, Collector of Internal Revenue. After that finding, the district judge further concluded that those commodity futures were not “by express statutory definition, ‘capital assets,’ ” citing § 117(a) (1), Internal Revenue Code of 1939,2 as amended by §'…
2Cases cited7 opinions
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Helvering v. WinmillSupreme Court of the United States · 1938
- Board of Trade of Chicago v. Christie Grain & Stock Co.Supreme Court of the United States · 1905
- Board of Trade of Chicago v. OlsenSupreme Court of the United States · 1923
- Commissioner of Internal Revenue v. CovingtonCourt of Appeals for the Fifth Circuit · 1941
2 more not listed; retrieve them via the Exa API.
3Cited by31 opinions
- John Factor v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1960
- In the Matter of Roger Roy Larson and Joan Rosemary Larson, Debtors-AppellantsCourt of Appeals for the Seventh Circuit · 1988
- Christine L. Pounds as Independent of the Estate of Horace E. Pounds and Christine L. Pounds v. United StatesCourt of Appeals for the Fifth Circuit · 1967
- Smith v. CommissionerUnited States Tax Court · 1959
- Sicanoff Vegetable Oil Corporation v. Commissioner of Internal Revenue, Sicanoff Tallow Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1958
26 more not listed; retrieve them via the Exa API.