Legal Opinion
Jones Lumber Co., Inc. v. Commissioner of Internal Revenue, Rach, Inc. v. Commissioner of Internal Revenue
Court of Appeals for the Sixth Circuit
Decided December 9, 1968No. 18177, 18178PublishedCited by 12 opinions
1Opinion of the Court
COMBS, Circuit Judge.
Taxpayers, Jones Lumber Co., Inc., and Rach, Inc., seek review of a decision of the Tax Court approving income tax deficiencies against them for the years 1960-1962. Taxpayers were engaged in the sale and construction on lots owned by the purchaser of standardized semi-finished houses commonly referred to as “shell” houses. Sales were frequently made by taking notes secured by mortgages on the purchaser’s land where the house was to be constructed. To facilitate the financing of the sales, taxpayers maintained arrangements with several lending institutions to buy first…
2Cases cited5 opinions
- H. Liebes & Co. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1937
- Corn Exchange Bank v. United StatesCourt of Appeals for the Second Circuit · 1930
- Georgia School-Book Depository, Inc. v. CommissionerUnited States Tax Court · 1943
- Clifton Mfg. Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1943
- George L. Castner Co. v. CommissionerUnited States Tax Court · 1958
3Cited by12 opinions
- Harmont Plaza, Inc. v. CommissionerUnited States Tax Court · 1975
- Baltimore Baseball Club, Inc. v. United StatesUnited States Court of Claims · 1973
- European American Bank & Trust Co. v. United StatesUnited States Court of Claims · 1990
- Hunt v. CommissionerUnited States Tax Court · 1989
- IDI Management, Inc. v. CommissionerUnited States Tax Court · 1977
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